chapter 15 pt 2 missouri laws & ruls

no change in a life policy is valid unless the change is approved by

executive officer of the insurer

a life insurance policy with graded death benefits must be offered on what basis

guaranteed

If an agent told a client an HMO was a form of insurance and implied that the policy being offered included shares of stock, those actions would be characterized as:

misrepresentation

what special disclosure form must be provided to insureds replacing life insurance policies

notice regarding replacement

a life insurance policy cannot be contested after it has been in force for

2 years

If a person is terminated from employment, how much time do they have to convert from a group life insurance policy to an individual life insurance policy?

31 days

in missouri a group life insurance policy has a grace period of

31 days

a replacing insurer has how much time to inform each existing insurer about the proposed replacement

5 days

the maximum policy loan interest rate for life insurance policies issued in missouri is

8%

Insurers selling variable products must have at least how many separate accounts

1

the maximum amount of credit life insurance is what percentage of the debt

100%

which of these statements is not required in the war risk and aviation exclusion provision

ONLY CERTIFIED PILOTS HAVE COVERAGE

a universal life insurance policy may provide for other credits and charges such as charges for the cost of benefits provided by

a rider

which of the following is a requirement for life insurance policies with graded death benefits

accidental death benefits, offered on a guaranteed issue basis and 30 day free look period

the assignment provision for group life insurance allows the insured to assign what amount of the policy

all

what must an agent leave with an applicant after a presentation

all written or printed communication

which of the following criteria for the insured must be met in order to access the accelerated death benefit in missouri

considered chronically ill

which type of insurance is used to secure a debt

credit life

what is a transaction in which a new policy or contract is to be purchased if an existing policy or contract has been lapsed forfeited or surrendered

replacement

evidence that all replacement requirements have been met must be maintained by

the replacing insurer and the existing insurer

which of the following is subject to replacement regulations

whole life insurance