LIFE AND HEALTH EXAM REVIEW
higher
During the accumulation phase of a fixed annuity, the annuitant's interest rate is based on a minimum rate as specified in the contract, or the current interest rate, whichever is
Either term insurance or permanent insurance
An adjustable life policy can assume the form of
reaches age 65
An insured purchased a health insurance policy with a renewability clause that states the policy is "Guaranteed Renewable". This means that as long as the required premiums are paid, the policy will continue until the insured
The death benefit is taxable to the business
All of the following are true about key-person insurance EXCEPT
Decreasing Term
A new homeowner wants to purchase a life insurance policy that would protect his family against losing the home, should he die before the mortgage was paid. The most inexpensive type of policy that would accomplish this need would be
Cash
An IRA contribution can be made from which of the following?
indemity
An insured's hospital policy states that it will pay him a flat fee of $75 per day for each day he is hospitalized. The policy benefits on what basis?
monthly payments until the insured recovers or the loan is paid off
Credit disability insurance will pay
Received income tax free by the individuals
The benefits of medical Expense insurance are
Income
Which is not a crucial feature in health insurance underwriting
Private Duty Nursing
Medicare Part A services do NOT include which of the following?
To cover administration costs
An employee is covered under COBRA. His previous premium payment was $100 per month. His employer now collects $102 each month. Why does the employer collect an extra $2
Benefits begin at the beginning of the 6th month and are not retroactive to the beginning of the disability
If a person qualifies for Social Security disability benefits after the 5 month elimination period, when will benefits begin
Those with low income and low assets
Medicare is a health insurance program for all of the following individuals EXCEPT
taxed as ordinary income
Upon the surrender of a life insurance policy, any cash value accumulated in excess of the premium payments is
Assignment
What is it called when a doctor accepts the Medicare approved amount
Controlling costs
What is the purpose of the Gatekeeper in an HMO?
Within 30 days
When must a producer notify the Department of Insurance of a change of address
Risk Retention
Which of the following is NOT a characteristic of a Managed Care Plan
insurance application
Which of the following is the primary source of information that an insurer uses to evaluate an insured's risk for life insurance
Annuities
Which of the following types of policies would NOT be subject to Connecticut regulation on life insurance solicitation
One party accepts the exact terms of the other party's offer
Which statement best describes agreement as it relates to insurance contracts?
Individuals 50 or older
Who would be allowed catch-up contributions
The insured
With adjustable life, the owner can change all of the following EXCEPT
A higher monthly premium
If an insured decides to reduce the coinsurance amount on her major medical insurance, what can the insured expect?
Elimination Period
In disability insurance, the period of time between when the disability started and before the benefits are paid is called the
Employee paid group disability income
Regarding health insurance, all of the following are tax- deductible EXPECT
Policy dividends issued by mutual companies are guaranteed and not taxable
All of the following statements about mutual insurance companies are correct EXCEPT
Participant
What is another term for a health insurance policy subscriber
