Georgia Rules and Codes Pertinent to Life and Accident & Sickness Insurance Only
When an individual accident and sickness policy insurance policy is purchased in Georgia, the insured may return the policy to the insurer for a premium refund within
10 days
When a policy is replaced, replacing insurers must maintain a replacement register regarding that policy for
3 years.
How long is the waiting period for benefits to be paid in a long-term care policy or rider?
90 days
A group blanket health policy is best suited for which of the following?
A summer camp
Once an agent has met the requirements to sell long-term care insurance partnership policies, how often must the agent complete the 4 hours of ongoing training courses?
Every 24 months
Which of the following is TRUE regarding coverage for mammography in accident and sickness policies in this state?
An annual mammogram for women over age 50 must be included.
Which of the following would be considered a violation of life insurance advertising regulations?
Calling a variable insurance policy an investment plan
Existing insurers must provide policyowners with a policy summary for the existing life insurance within how many days of receiving the written communication and replacement
10
Group accident and sickness policies in Georgia have a grace period of
31 days
The inflation protection feature in long-term care policies issued in this state must provide protection for inflation at what percent annually?
5%
Any references to policy dividends must include a statement of what?
That the dividends are not guaranteed
Who is responsible for the contents of life insurance advertising?
The Insurer
Whenever agents submit applications to insurers, they must also submit statements disclosing whether or not replacement is involved. Who must sign these statements?
Applicant and agent
Which of the following would NOT be considered a purpose of life insurance solicitation regulations in Georgia?
Help buyers choose most qualified insurance producers
How soon from the reinstatement of a health insurance policy would a loss be covered?
10 days
If an insured's cognitive impairment results in the lapse of a long-term care policy, how long from the policy lapse may the insured request reinstatement?
5 months
What is the maximum allowed rate of interest on policy loans from life insurance?
8%
An application for lite insurance usually requires the agent to ask it the proposed insurance policy will replace an existing lite insurance policy. All of the following are purposes for obtaining this information EXCEPT
To ensure that at least three companies are involved so the policyowner gets competitive prices
If an applicant intends to replace any existing accident and sickness policy with a Medicare supplement policy, what must the agent turnish to the applicant?
A notice regarding replacement
Which of the following is true regarding Medicare Supplement policies?
These policies may not contain limitations of coverage except for those permitted by the pre-existing condition clause.
Insurers must keep files of all advertisements used in Georgia for the minimum of how many years?
4 years
Which required provision allows an insured to pay overdue premiums within 30 days for a life insurance policy to remain in effect?
Grace period
Which of the following groups would most likely be covered under a blanket accident policy?
Students at a public school
The First Street Church plans to sponsor a summer camp for the youth of their congregation. They would like to purchase insurance that would pay benefits should one of the youth get injured while participating in the camp activities. The type of policy they would likely need is a/an
Blanket.
The duties of an agent where replacement is involved include all of the following EXCEPT
Splitting the commission with the agent who originally sold the policy being replaced.
For how long are insurers required to maintain records pertaining to life insurance solicitation?
3 years
Which of the following entities is responsible for determining whether an advertisement might mislead or deceive a person of average education and intelligence?
The Commissioner
The human resources director of an insurance company loves the policy they have with the company. They are personable, and the company wants to use them in a new advertisement.
The HR director can appear in the advertisement under the condition that the connection to the company is disclosed
Which of the following entities is responsible for determining whether an advertisement might mislead or deceive a person of average education and intelligence?
The commissioner
Which of the following terms will be permissible in describing a life insurance policy in company advertisements?
Variable plan