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
