final study
Which nonforferture option provides coverage for the longest period of time
Reduce paid-up
Level term insurance provides a level death benefits and level during the policy renews at the end of specified period of time the policy premium will be?
Adjustable to the insured age at the time of renewal
When does the commissioner files a report with the governor
Annually
Which component increase in the increasing term insurance?
Death Benefit
An insured under a life insurance policy has been diagnosed with a terminal illness and 6 mos. to live the insured know the financial state will worsen even more with upcoming medical expenses what option could the insured utilize?
Viatical settlement
Which is the earliest a policy may go into effect
When the application is signed and the check is given to the agent
Which of the following true for both equity indexed annuities and fixed annuities ?
They have a guaranteed minimum intrest state
The validity of coverage under a life insurance policy may not be contested except for non payment of premium after the policy has been inforce for at least how many years
2 years
Which of the following statement is not true regarding health insurance policy provisions?
All additional provision written by insurers are cataloged by their respective states
All other factors being equal, the least expensive first- year payment is found in
Annually renewable term
A universal life insurance policy is best describe as /an
Annually renewable term policy with a cash value account
An applicant who receive who receives a perfferred risk classification qualities for
Low premium than a person who receives a stand risk
An insured has a level term insurance policy that is guaranteed renewable and also include re-entry option. The re-entry provision would allow the insured to renew the policy and
Pay a lower renewal premium by providing insurablility
Which of the following answers does not describe the principal l goal of preferred provider organization
Provide medical services only from physicians in the network
An insured committed suicide one year after his life insurance policy was issued the insurance will?
Refund the premiums paid
A policy owner who is also the insured wants to name her husband as the beneficiary of her life policy. She also wishes to retain all of the rights of ownership the policy owner should have her husband named as the
Revocable beneficiary
The term fixed in and fixed annuity refers to all the following execept
death benefit
Which two terms are associated directly with the premium
level or flexible
If a policy includes a free-look period of at least 10 days the buyers guide must be delivered to the applicant
with the policy
When an individual life insurance policy is being replaced by insurer using an agent, policyowner must given an unconditional right to a full premiums if the policy is rturnd within
20 days
L has a major medical policy with a 500 deductible and 80/20 coinsurance L is hospital and sustain a 2,500 loss what is the maxium amount that L will have to pay
900 deductive + 20% if the bill after the deductible ( 20% of 2,000)
When an insurance agency published an advertising brochure it emphasized the company's financial stability and sound business practice in reality it's financial health is terrible and company will soon have to file for bankruptcy. which of the following terms best describe the advertisement
False financial statement
To sell Variable life insurance life insurance policies an agent must receive all of the following Except ?
SEC
If a insured receives accelerated death benefits what is the least amount of the orginal death benefit tht the beneficary would receive after the insureds death?
0%
An insurance contract must contain all of the following to be considered legally binding except?
Beneficiary consent
The death benefit under the universal life option B
Gradually increase each year by the amount that the cash value increase
All of the following are difference between individual and group health insurance except?
Individual insurance does not require medical examinations while group insurance does require medical examinations
An employee becomes insured under PPO plan provided by his employer if the insured decides to go to a physician who is not PPO provider, which of the following will happen?
The PPO will pay reduce benefits
Which of he following is not true regarding partial disability?
This is a form of insurance that cover part time workers
Which describes the feature of a comprehensive major medical policy?
Basic medical expense benefits are provided in a single package
Which of the following statement is not true concerning insurable intrest as it applies to life insurance
A debtor has an insurable interest in life of a lender
An insured does not have to pay coinsurance or deductibles on a full- series mouth x-ray but does have to pay a deductible to get his cavities filled which dental plan does his cavities filled. which dental plan does he have
Nonscheduled ( do not have to Pay)
Which provision concern the insurance duty to provide the insurers with reasonable (notice) in the event loss?
Notice of claim
If the annuitant dies during the accumulation period who will receive the annuity benefits?
Beneficiary
An applicant for an individual health policy failed to complete the application properly before being able to complete the application and pay intel premium, she is confined to a hospital this will not be covered by insurance because this will not be covered by insurance because she has not met the conditions specified in
Consideration Clause
What happen when a policy is surrender for it's cash value?
Coverage ends and policy can not be reinstated
What is material Misrepresentation?
A statement by the applicant upon discovery would underwritten decision of the insurance company
Which of the following is incorrect regarding 100,000 20 years receive 100,000
At the end of the 20 years the policy's cash value will enquire 100,000
What is the purpose of a fixed- period settlement option?
To provide a guarantee income for a certain amount of time
Which of the following is not a type of whole life insurance
Increase term
Which of the following policy components contains the company promise to pay?
Insurance clause
The section of health policy that states the causes of eligible loss under which an insured is assumed to be disable is the ?
Insuring Clause
Which of the following statements concerning medicare B is covered?
It pay for physician service diagnostic test, and physical therapy
The provision which prevents the insured from bringing and ( legal) action against the company for least 60 days after proof of loss is known as?
Legal actions
Which of the following is excluded in dental insurance plan?
Lost denture (not covered)
Which of the following premium modes would result in the highest annual cost for an insurance policy?
Monthly
All of the following are correct about the required provisions of health insurance policy?
Reinstated policy provides immediate coverage for an illness
A insured purchased a 10 year level term life policy that is guaranteed renewable and convertible what happen at the end of the 10 year term?
The insured may renew the policy for another 10 year but at a higher premium rate
Which of the following is not covered under plan A medicare insurance
The medicare part A deductible
Which of the following determines the cash values of variable life policy?
The performance of the policy Portfolio