FX TX Life and Health

How long is the grace period for an individual; insurance policy?

1 month

If an individual willfully violates provisions of the Fair Credit Reporting Act, what is the maximum civil penalty?

$2,500

In an individual life insurance policy, when must the non forfeiture benefits begin?

After 3 policy years

In a noncontributory group policy

100% of eligible employees must participate

What is the specific requirement regarding the number of employees in a SIMPLE plan?

No more than 100 employees

An employee is insured by a group major medical plan that is provided through her employer. The employer contributes 75% of the premium and the employee contributes the remaining 25%, if insured receive benefits from policy in $1,000 how much benefit would be tax as income?

$0

An employee that becomes ineligible for group coverage because of termination of employment or change in status, must exercise extension of benefits under COBRA

within 60 days

Under the mandatory uniform provision Proof of Loss, the claimant must submit proof of loss within what time period after the loss?

90 days