Insurance exam
An annuity has accumulated the cash value of $70,000, of which $30,000 is from premium payments. The annuitant dies during the accumulation phase. The beneficiary will receive
$70,000
An employee is insured by a group major medical plan that is provided through her employer. The employer contributes 75 percent of the premium and the employee contributes 25 percent. If the insured received a benefit from this policy in the amount of 1000, how much is taxed as income
0
How many days is the free-look period in this state
10
Under the mandatory uniform provision Legal Actions, an insured is prevented from bringing a suit against the insurer to recover on a health policy prior to
60 days after written proof of loss has been submitted
If an insured decides to reduce the coinsurance amount on her major medical insurance, what can the insured expect?
A higher monthly premium
An individual is approaching retirement age and is concerned about having proper coverage should he have to be placed in a long-term care facility. His agent told him that LTC POLICIES would provide necessary coverage at all of the following levels except
Acute
In a variable life insurance policy, all of the following asssts are held in the insurance company's general account except
Cash surrender values
In an employer group heath insurance plan, the covered employee receives
Certificate of insurance
Decreasing term insurance is often used to
Cover a mortgage
A new homebuyer wants to purchase a life insurance policy that would protect his family against losing the home, should he die before the mortgage was paid. The most inexpensive type of policy that would accomplish this need would be
Decreasing term
Guaranteeing future dividends is considered to be an unfair or deceptive act known as
Misrepresentation
An insureds life expectancy is 6 months. How often may a viatuclke settlement provider contact the insured about their health status
Once a month
In order to reinstate a life insurance policy the insured must do all of the following except
Pay next year's premium in advance
A married couple purchase a life insurance policy on their newborn 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
Payor benefit
An Equity Indexed Annuity will grow based upon
Performance of a recognized index
Life insurance can provide which of the following
Survivor protection
All of the following are true of group life insurance except
The insureds each own their own contract
Who does the spendthrift clause in a life insurance policy protect?
beneficiary
Which of the following is an example of a physical hazard
diabetes
Who determines if a particular group of employees can be excluded from group health coverage
employer
Which of the following is not a type of hazard
exposure
The commissioner of insurance is appointed by which authority
governor
Which of the following best describes a presumptive disability
one that is severe enough that the insured automatically qualifies for full disability benefits
In group insurance, the primary purpose of the coordination of benefits provision is to
prevent overinsurance
Which of the following is a requirement for replacement of health policies
The old policy must stay in force until the new policy is issued
An insured has just adopted a child. How soon should she notify the insured if this addition
Within 31 days
An insured's hospital policy states that it will pay him a flat fee if 75 per day for each day he is hospitalized. The policy pays benefits on what basis
Indemnity
Which of the following is the primary source of information that an insurer uses to evaluate an insured's risk for life insurance
Insurance application
Which of the following riders provides for the payment of part of the policy death benefit if the insured is diagnosed with terminal illness that will result in death within 2 years
Living Needs Rider
If an employee remains on an employer group health plan within a company that has 20 employees and signs up for Medicare, which of the following coverages will be primary
Employer Group Health Plan
An insured has a routine exam, blood work, and a follow up appointment with a specialist. The insured receives a bull for each service provided. What type of plan does the insured have
Fee for service
What happens to the face amount of a whole life policy if the insured reaches age 100
The face amount is paid to the insured
All of the following are true of annually renewable term insurance Except
proof of insurability must be provided at each renewal