Final review for health

joint life

A couple receives a set amount of income from their annuity. When the wife dies, the husband no longer receives annuity payments. What type of annuity did the couple buy?

joint and survivor

A married couple's retirement annuity pays them $250 per month. The husband dies and his wife continues to receive $125.50 per month for as long as she lives. When the wife dies, payments stop. What settlement option did they select

cost of living rider

A rider that may be attached to a life insurance policy that will adjust the face amount based upon a specific index, such as the Consumer Price Index, is called

The life and health insurance guaranty association

All insurers that provide life or accident and health insurance coverage in Texas must be members of what association

A reinstated policy provides immediate coverage for an illness

All of the following are correct about required provisions of a health insurance policy except

Benefits are considered taxable income to the business

All of the following are true of the ley person disability income policy except

The payments will stop when the annuitant dies.

All of the following statements are true regarding installments for a fixed amount EXCEPT

The employer can receive a current tax deduction for any contributions made to the plan

All of the following statements concerning an employer sponsor nonqualified retirement plan are true except

5

In ordered to qualify for conversion from a group life policy that has been terminated to an individual policy for the same coverage, a person must have been insured under the group plan for how many year

the employer

The limits of a health reimbursement account are set by

insuring clause

The section of a health policy that states the causes of eligible loss under which an insured is assumed to be disabled is the

current assumption life

What is another name for interest-sensitive whole life insurance?

equal to the original policy for as long as the cash values will purchase

When the insured selects the extended term nonforfeiture option, the cash value will be used to purchase term insurance with what face amount

life income with period certain

Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original dies, the payments will continue to a designated beneficiary?

at least one officer or partner and any other person acting as an agent

Which members of a corporation are required to obtain an insurance agent's license in order for the association to be license

Payment is limited to a certain period of time

Which of the following applies to partial disability benefits?

The insured is not required to pay a deductible

Which of the following best describes the "first-dollar coverage" principle in basic medical insurance?

Automatic Enrollment

Which of the following is NOT an enrollment period for Medicare Part A applicants?

beneficiaries are not identified by name

Which of the following is true about a class designation?

the amount of distribution is reduced by the amount of a 20% withholding tax

a 60 year old participant in a 401k plan takes a distribution and rolls it over to a IRA with 60 days. Which of the following is true

medical

if a dental plan is integrated, it is combined with what type of plan

Convertible Term

the type of policy that can be chargers from one that does not accumulate cash value to the one the does is a

To explain features and benefits of a proposed policy to the consumer.

what is the purpose of a s disclosure statement in life insurance policies

within 30 days of initial discovery

what is the timeframe for filing relevant suspicious activity report