Guarantee test review
In order for a business partner to be ellgible for a Keogh plan, he/she must work full-time and own at least how much of the business?
10%
Which of the following statements is not true regarding health insurance policy provisions?
All additional provisions written by insurance or catalog by their respective states
Which of the following riders pays a beneficiary a death benefit that is double or triple the face amount if the insured's death was caused by an accident as defined in the policy?
An Accidental Death Rider
When a whole life policy is surrendered for its nonforfelture value, what is the automatic optlon?
Extended term
Which of the following Is NOT true regarding a deferred annulty?
Income payments begin within 1 year from the date of purchase.
17: With respect to the entire contract clause in health policies, who has the authority to make changes to an existing policy?
Only an executive officer of the company
If a life insurance company uses HIV testing as a part of its underwriting, when must an applicant be notified of the procedure?
Prior to performance of the test
An annuity would normally be purchased by an individual who wants to
Provide income for retirement
The family term rider incorporates
Spouse term and children's term.
15: Insureds have the right to do which of the following if they have NOT received the proper claim forms within 15 days of their notice to the insurer of a covered loss under major medical policy?
Submit the description in thelr own words on a plaln sheet of paper
What is the purpose of the impairment rider in health insurance policy?
To exclude coverage for a specific impairment
Because of an Injury, an insured has been unable to work for 7 months. When his life Insurance premium came due, he was unable to pay, yet the pollcy remalned in force. The policy includes
Walver of premlum rider.
A married couple purchase a life insurance policy on their newbom baby. They are concerned about what would happen to the policy if either one of them were unable to continue making the premium payments due to death or disability. Which policy rider should their agent recommend? a)
Payor benefit
Which of the following is NOT mandatory under the Uniform Provisions Law as applied to accident and health policies?
Probationary period
Which of the following would NOT trigger the payment of Accelerated Death Benefits?
Being permanently disabled
An Insured and his spouse recently had a child. Which of the following riders would allow the couple to Insure the child for a limited period of time at a specified amount?
Children's term rider
Ed Is covered under a health plan provided by his employer. He was told that his insurance would pay the majority of the covered expenses if he would choose to see a provider in his plans list. If Ed chose to be treated by a provider who was not on the list, his portion of the bill would be greater. It is covered under a
Preferred provider plan
Under the mandatory uniform provision "Notice of Claim", written notice of a claim must be submitted to the insurer within what time parameters?
Within 20 days
An elimination (waiting) . May not have to be satisfied for a disability in which of the following?
And insured stuffers a relapse of a prior disability within six months of the additional covered disability
A husband and wife both incur expenses that are attributed to a single major medical insurance deductible. Which type of desuctible do they have in their policy?
Family
A married couple wants to include the entire family in their whole life policy under one rider. Which of the following riders will help them achieve that goal?
Family term
In order for an alumni association to be eligible to purchase group health insurance for its members, all of these statements must be true EXCEPT when the association
Has been active for five years minimum
Whlch of the following is NOT true regarding a deferred annulty?
Income payments begin within 1 year from the date of purchase.
Riley reads an agreement on the first page of her policy which includes a list of losses that will be covered by her insurer. What is the name of this agreement?
Insuring clause
Which of the following is provided by skilled medical personnel to those who need occasional medical assistant or rehabilitative care
Intermediate care
Medicare part B covers all of the following except
Long-term care services
What is the difference between a straight life policy and a 20-pay whole life policy?
Premium payment period
Under the mandatory uniform provision Legal Actions, an insured is prevented from bringing a suit against the insurer recover on a health policy prior to
60 days after written prror of loss has been submitted
5: A disability income policy has a waiting period of 7 days. If the insured is disabled for 15 days, how many days of benefits will the policy pay?
8 days
Which of the following statements regarding HIV testing is NOT true?
Test results must be sent to the Department of Insurance.
Joe, age 63, was disabled and can no longer work. He meets the Social Security definition of total disability. How many work credits must Joe have accumulated to have the status of fully insured?
40
18: According to the Time Limit on Certain Defenses provision, statements or misstatements made in the application at the time of issue cannot be used to deny a claim after the policy has been in force for a minimum of how many years?
2 years
viatical settlement is a transaction outside the life Insurance company where the owner sells the life Insurance policy for which of the following?
percentage of the face amount of the pollcy