Insurance License: Georgia Rules and Codes Pertinent to Life and Accident & Sickness Insurance Only
How soon from the reinstatement of a health insurance policy would a loss be covered?
10 days
What is the minimum age for purchasing a life insurance policy in this state?
15
When a policy is replaced, replacing insurers must maintain a replacement register regarding that policy until the conclusion of the next regular examination by the Insurance Department or for
3 years
All accident and health insurance policies issued in this state must include a grace period of at least
30 days
All of the following are examples of violations of replacement EXCEPT
Advising an applicant to answer questions correctly
A group policy used to provide accident and health coverage on a group of persons being transported by a common carrier, without naming the insured persons individually is called
Blanket policy
An outline of coverage must be given to the applicant for a long-term care policy no later than
The time of initial solicitation
Which provision stipulates that misstatements made in a health insurance application may not be used to deny a claim after the policy has been in force for 2 years?
Time limit on certain defenses
An application for life insurance usually requires the agent to ask if the proposed insurance will replace an existing life 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
What is the purpose of Life Insurance Solicitation regulation?
To help consumers compare life insurance products in regard to their relative cost
Group accident and sickness policies in Georgia have a grace period of
31 days
A group blanket health policy is best suited for which of the following
A summer camp
The term "conservation effort" deals with
Discouraging policyholders from dropping existing policies.
Which of the following would NOT be considered a purpose of life insurance solicitation regulations in Georgia?
Help buyers choose most qualified insurance producers
Who is responsible for the contents of life insurance advertising?
The insurer
Which of the following terms will be permissible in describing a life insurance policy in company advertisements?
Variable plan
Insurers must keep files of all advertisements used in Georgia for the minimum of how many years?
4
Any references to policy dividends must include a statement of what?
That the dividends are not guaranteed
If policyowners repeatedly replace policies from the same agent, this is most likely evidence that
The agent knew that replacement was intended in connection with the sale and intentionally violated the replacement regulation
The entire contract is made up of all of the following EXCEPT
The buyer's guide
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
An insurer filed a form with the Commissioner 90 days ago, but the Commissioner has yet to approve or disapprove the form. What can the insurer do?
Consider the form approved and begin using it
Insurers must screen all marketing plans to ensure that an advertisement does NOT use as the name of any kind of an annuity contract any phrase that
Does not include the word "annuity" unless accompanied by other clear language indicating it is an annuity
Which required provision allows an insured to pay overdue premiums within 30 days for a life insurance policy to remain in effect?
Grace period
Whenever agents submit applications to insurers, they must also submit statements, signed by the applicant and agent, disclosing the involvement or lack of involvement of
Replacement
How long is the free-look period for long-term care policies issued in Georgia?
30 days
The inflation protection feature in long-term care policies issued in this state must provide protection for inflation at what percent annually?
5%
What is the maximum allowed rate of interest on policy loans from life insurance?
8%
Once an individual is licensed as an insurance producer for life or accident and health insurance, how many hours of training must the producer complete initially to sell long-term care insurance partnership policy?
8 hours
How long is the waiting period for benefits to be paid in a long-term care policy or rider?
90 days
Medicare supplements specifically exclude all of the following EXCEPT
Surgical expenses of persons eligible for Medicare
The act of trying to discourage a policyholder from dropping his/her existing policy is called
Conservation effort
If an applicant intends to replace any existing accident and sickness policy with a Medicare supplement policy, what must the agent furnish to the applicant?
A notice regarding replacement
Qualifications for soliciting, selling, or negotiating a long-term care partnership policy include all of the following EXCEPT
Obtaining a partnership policy license from the Commissioner