learn as you go 2

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

an ind. purchased a 100,000 joint life policy on himself and wife. 8 years later, he died in an automobile accident. how much will his wife receive

100,000

which insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may only receive benefits for the amount lost?

Indemnity

which of the following does the insuring clause not specify

a list of available doctors (lists the insured, insurance company, what kind of losses are covered, for how much the losses would be compensated.

an ind. has been diagnosed with Alzheimers dz. He is insured under a LI policy with accelerated benefits rider. Which of the following is true regarding taxation of the accelerated benefits

a portion of the benefit up to a limit is tax free; the rest is taxable income.

Parts of medicare

a; hospital expenses. b; doctor expenses. c; allows people to receive all of their health care services through available provider organizations. d; prescription drugs.

In reference to the standard Medicare Supplement benefits plans, what does the term standard mean?

all providers will have the same coverage options and conditions for each plan.

a health insurance policy that pays a lump sum if the insured suffers a heart attack or stroke is known as

critical illness (critical illness policy covers multiple illnesses, such as heart attack, stroke, renal failure, and pays a lump sum benefit to the insured upon the diagnosis)

During a partial withdrawal from a universal life policy, which portion will be taxed?

interest

during replacement of joint life insurance, a replacing insurer must do which of the following

obtain a list of all life insurance policies that will be replaced

under a disability income policy, the insurer does not pay a monthly benefit that is equal to the insured's previous income. The reason for paying a benefit amount that is less than the insured's income is to

prevent over utilization and malingering.

which of the following is correct about medicare?

program provides complete medical care at no cost, part b is available to the insured at no cost, it is a federal program for welfare recipients.

which of the following statements about occupational vs. nonoccupational coverage is true

disability insurance can be written as occupational or nonoccupational (all disability insurance can be written on either an occupational or nonoccupational basis)

fixed period

if a beneficiary wants a guarantee that the benefits paid from principal and interest would be paid for a period of 10 years before being exhausted, what settlement option should the beneficiary select?

an insurer devises an intimidation strategy in order to corner a large portion of the insurance market. Which of the following best describes this practice?

illegal

an insurer receives a report regarding a potential insured that includes the insured's financial status, hobbies and habits. what type of report is it

inspection report

an insurer wishes to compare the info given in an insurance app. with previous ins. apps. by the same applicant but for diff. companies. What org. can help the insurer accomplish this

the MID (medical information bureau)

which of the following is true about the requirements regarding HIV exams

the applicant must give prior informed written consent

what happens if a deferred annuity is surrendered before the annuitization period

the owner will receive the surrender value of the annuity.

the owner of a life insurance policy wishes to name two beneficiaries for the policy proceeds. What will the soliciting insurance producer say?

the policy owner can specify the way proceeds are split in the policy


Ensembles d'études connexes

Artículo semanal: "Primera Generación 1963-73" Vocabulario

View Set

Chemistry Ch 5 Chemical Reactions Homework

View Set

ACE Group Fitness Exam-Practice Questions

View Set

U.S. History H - Cold War Test Review

View Set

Psych Aspects Ch. 6 Weiner's Model

View Set

Security+ 2.5 Cybersecurity Resilience

View Set

Chapter 12 Cognitive Development in Childhood

View Set