Test
Where are premiums for fixed annuities invested
A general account if fix annuity is characterized by a general account into which purchase payments premiums are invested
Catastrophic plans
Catastrophic plans usually have high high deductibles and lower monthly premiums
How is the insurance guaranty Association founded
Guarantee association is founded by its members are authorized insurers are required to contribute to a fund two provide for the payment of claims for insolvent shirts
Which of the following is not mandatory under the uniform provisions law as applied to an accident and health policy's
Change of occupation is an optional provisions
And employee that becomes in eligible for a group coverage because of termination of employment or change in status must exercise extension of benefits under COBRA
The terminated employee must exercise extension of benefits under COBRA within 60 days of separation from employment
And insured has a heart attack while jogging but is expected to return to work in approximately six weeks. The insured's disability income policy will
Replace a percentage of his lost income disability income insurance covers income only not medical expenses
Which of the following provisions gives an employee the right to exchange group insurance for an individual policy within a certain number of days from termination of employment
Conversion provision State law requires that an insured under a group insurance plan be given at least 31 days to convert group coverage to an individual coverage without proof of insurability
An insurer must notify the consumer in writing that and investigative consumer report has been requested within how many days of the initial request
If A consumer report is requested the insurer must notify the consumer at least three days following the initial request
What is intermediate care
Intermediate care is in his occasional nursing in real rehabilitative care of that is ordered by physician and provided by skilled medical Fessional for such things as changing the bandage or administration make medications
Your elderly client wants to provide a retirement income for his elderly parents in case something happens to him he wants to make sure that both beneficiaries are guaranteed an income for life which settlement option should this policy under select
Joint and survivor
To what type of insurance policies does the policyholders protection act apply
Life insurance and annuity policy holders protection act applies to life insurance and annuity annuity policies that cover residents of the state
And employer is no longer able to afford the group health insurance plan and the plan terminates however one of the employees continues to receive coverage under the plan which of the following explains the reason for the continued coverage
Most plans provide for reasonable coverage extension beyond plan termination for totally disabled employees
Cache Valley guarantees and a whole life policy are called
Nonforfeiture values
Reciprocity
Reciprocity occurs when the state in which the person resides accords the same privilege to residence of Oklahoma
Our health insurance policies in force material to a life insurance contract
The information about the applicants health insurance policies is not material to life insurance contract
Which of the following is the primary source of information that and ensure uses to evaluate an insureds risk for life insurance
The insurance application is the data gathering tool utilized in evaluating and individual risk
The provision that sets forth the basic agreement between the insured and the insured and states the insurers promised to pay the death benefit upon the insured's death is called
The insuring clause states the insurers promise to pay the death benefit upon the insurance death and sets forth the basic agreement between insure on the insurance
A whole life policy is surrendered for a reduced paid up policy the cash value in the new policy will
The new policy continues to build its own cash value and will remain in force until the insured's death or maturity
Are there limitations on the number of teeth that can be treated and one given year
There is no limitation on the number of teeth that maybe treated in a given year but other than Tatian's exist
The replacing insurer must send a written notification to the home office of the replaced and sure within how many days of the application
They're replacing insurer must and written notification to the home office of the replaced and insurer within five days of application
Common disaster clause
According to the common disaster clause if it cannot be determined who died first the insured or the primary beneficiary it will be assumed the primary beneficiary died first so the proceeds go to the contingent beneficiary proceeds will go to the insured the estate only if there's no contingent beneficiary
Applicants who may require a larger death benefit in the future should buy convertible term policy insurance
Convertible term converts a cashValue policy with the same death benefit but at a higher premium
A husband and wife both incur expenses that are attributed to a single major medical insurance deductible which type of deductible do they have in their policy
Family
Refusing to pay claims without conducting a reasonable investigation upon based all available information is it example of
Refusing to pay claims without conducting a reasonable investigation based upon all available information is in unfair claims practice
Which of the following should not be stated on the notice when replacement is occurring
Suicide clause is not begin anew Because incontestability and suicide clause is both begin a new
A major medical expense policy would exclude coverage for all of the following treatments except
Treatment for drug and alcohol addiction is provided on a limited basis
What is it called when a doctor excepts the Medicare approved amount
Assignment
What is the fixed amount option
He fixed them out option pays the next specific amount installments until the proceeds principal and interest are exhausted the recipient selects a specified dollar amount to be paid until it's gone if the beneficiary dies before the proceeds are exhausted installments will continue to be paid to a contingent beneficiary until all the proceeds of been paid out
Notice of claim vision mandates that a written notice of claim must be submitted to the insurance within what time parameter
Within 20 days
Which entity has the option of including optional provisions in the health insurance policy
Ensure has the option of including optional provisions in the health insurance policy
What is the premium of survivorship life based on
Survivorship life or second to die policy is much the same as joint life in that it ensures two or more lives her opinion is based on the joint age
Are waivers of cost of insurance rider is included in whole life policies
The waiver of cost insurance rider is found in universal life policy is not in whole life policies
According to the life insurance replacement regulations which of the following would be an example of policy replacement
A policy reissued with a reduction in cash value
And individual covered under good dental expense plant needs average are done bridgework is covered as
Prosthodontics is bridgework periodontics is gum treatment endodontics covers root canals orthodontics covers braces
Health insurance policy provisions
All health insurance policies are required to contain uniform mandatory provisions which are specific provisions that are required to be in every health insurance contract ensure it may add provisions they're not in conflict with uniform provisions provided the provision is approved by the state in which the policy is delivered these additional provisions are not catalog