Ex TX Insurance Continues

Riley reads an agreement on the first page of her policy which includes list of losses that will be covered by her insurer. What is the name of this agreement?

Insuring clause

The provision that sets forth the basic agreement between the insurer and states the insurer's promise to pay death benefit upon the insured's death is call the?

Insuring clause

In a life insurance application, all of following signatures will be required EXCEPT?

The home officer underwriter

All of the following are true o credit life EXCEPT?

The insured names the beneficiary

Which of the following statements is INCORRECT?

The insurer does not have the right to conduct an autopsy

What is the purpose of a benefit schedule?

To state what and how much is covered in a plan

Which of the following would NOT trigger payment of accidental death benefits?

Being permanently disabled.

In a variable life insurance policy, all of the following assets are held in the insurance company's general account EXCEPT

Cash surrender values

An insurer that operates for one or more social, educational, charitable, benevolent, or religious purposes for the benefit of its members is known as?

Fraternal Insurer

In order for an alumni association to be eligible to purchase group health insurance for its members, this statement must be EXCEPT when the association?

Has been active for five years minimum

Which of the following is NOT mandatory under the Uniform Provisions Laws applied to accident and health policies?

Probationary period

Life insurance can provide which of the following?

Survivor protection

If the insurance premiums were not tax deductible, what other taxation will this affect? a) Taxation of interest b) Taxation of the policy's cash value c) Federal tax income d) Taxation of benefits

Taxation of benefits

How does insurance distribute the financial consequences of individual losses?

it transfers the risk to all persons insured

Which of the following would be TRUE of both the fixed-period amount settlement options?

Both guarantee that the principal and interest will be full paid out

In addition to participation requirements, how does an insurer guard against adverse selection when underwriting group health?

By requiring that the insurance be incidental to the group

Which of the following would NOT constitute a policy replacement?

Converting group coverage to individual coverage

When life insurance proceeds are used to pay inheritance taxes and federal estate taxes, it's known as?

Estate Conversation

An insured's cancellable health insurance policy is being cancelled. One day before policy is scheduled to end, he is involved in a major accident and hospitalized for a week. Which is the best describes the coverage he would receive?

Full benefits, as if the policy were still completely in effect

In which of the following scenarios would a producer be allowed to obtain insurance through an unauthorized insurer?

If there are no authorized insurers for a specific type of coverage in this state

Which is NOT true regarding a deferred annuity?

Income payments begin within 1 year from the date of purchase.

Which is NOT a Medicaid qualifier?

Insurability

An example of an alien insurer doing business in this state is one formed under the laws of?

Mexico

In Health Insurance the length of the grace period varies according to the?

Mode of premium payment

Ed is covered under health plan provider by his employer. he was told his insurance pay majority of covered expenses if he choose to see provider in his plan's list. If he chose to be treated by provider not on the list, his portion of bill would be greater. He is covered under an?

Preferred Provider Plan