Life and health ch 9 and 10

The legal process by which an insurance company six recovery of the amount paid to the insured from a third-party whom may have caused the loss

Subrogation

The transfer of an insurance right to seek damages from a negligent party to the insurer is found in which of the following clauses

Subrogation

Medicare supplements specifically exclude all of the following except

Surgical expenses of persons eligible for Medicare.

Non-contributory

The employer pays the entire cost of the disability insurance premium

Non-occupational coverage

Covers you only off the job

If an inch or changes his payment plan for monthly to annually what happens to the total premium

Decreases

Group disability income insurance premiums paid by the employer are

Deductible by the employer as an ordinary business expense

A brain surgeon has an accident and develops tremors in her right arm. Which disability income policy definition of total disability will cover her for all losses?

"Own occupation" - less restrictive than other definitions

How long can the commissioner serve an office term

4 years

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 days

What is the minimum age for purchasing a life insurance policy in this state

15

Agent licenses expire every

2 years

Short term disability group plans usually have benefit periods of less than

2 years

Long-term disability group plans usually pay benefits for

2 years or longer

The commissioner may examine each authorized HMO as deemed necessary but once every

3 years

The inflation protection feature in long-term care policies issued in this state must provide protection for inflation at what percent annually

5%

Unreimbursed medical expenses paid for the insured may be claimed as deductions if the expenses exceed what percentage of the adjusted gross income

7.5%

Which of the following individuals will be eligible for coverage on the health insurance marketplace

A permanent resident lawfully present in the U.S.

What type of insurance is sold to the small business owners that me overhead expenses such as rent or utilities following disability

Business overhead expense

All of the following statements concerning Worker's Compensation are correct except

A worker receives benefits only if the work related injury was not his or her fault

Secondary beneficiary

An alternative beneficiary designated to receive payment, usually in the event the original beneficiary predeceases the insured.

An outline of coverage must be given to the applicant for a long-term care policy no later than

At the time of initial solicitation

Non-resident producer

Licensed and lives outside of the state

Four types of benefits for Worker's Comp.

Medical income death and rehabilitation

And insured has health insurance that covers them at work and at home this policy was written on what basis

Occupational

PPACA

Patient Protection and Affordable Care Act

Which of the following applies to partial disability benefits

Payment is limited to a certain period of time

A woman obtains health coverage through the Marketplace on October 1. Two weeks later she finds out that she is 3 months pregnant. Which of the following is true about coverage for pregnancy?

Pregnancy will be covered immediately

When an insurer combines Two periods of disability into one the insured must have suffered a

Recurrent Disability

Partially contributory

The cost is paid partially by the employer and partially by the employee. The portion paid by the employee is received income tax free and the portion paid by the employer is included in the employee's gross income and taxed as ordinary income.

A man works for Company A and his wife works for Company B. The spouses are covered by health plans through their respective companies that also cover the other spouse. If the husband files a claim,

The insurance through his company is primary

Which of the following is an example of a producers fiduciary duty

The trust that a client places in the producer in regard to handling premiums.

Which of the following determines whether disability insurance benefits or taxed

Whether the premiums were text deductible

Occupational coverage

benefits for illness, injury or disability resulting from accidents or sicknesses that occur on or off the job

Which of the following would be considered a violation of life insurance advertising regulations

calling a variable insurance policy an investment plan

The act of trying to discourage a policyholder from dropping his/her existing policy is called

conservation effort

Fully contributory

the employee pays the entire cost of the disability insurance premium, so the income benefits are received income tax free by the employee

Primary beneficiary

the first entitled to receive the policy proceeds on the insured's death