pa in exam
If a Medicare Supplement policy replaces another that had been in effect for at least 6 months, the replacing policy may impose which of the following time exclusions for pre-existing conditions?
0 months
the typical long term care insurance policy is designed to provide a minimum of _____ years of coverage
1
Kathy pays a monthly premium on her health insurance policy. How long is her grace period?
10 days
in a long term care policy the right to examine period is
10 days
Frank is shopping for a disability income policy. Which of the following would have the HIGHEST premium?
14 day waiting period/ 10 year benefit period
once the insurance company receives a notice of claim, they have ____ days to send the claim form
15
according to pennsylvanias law, postnatal care must be delivered within how many days of discharge
2
producers must complete a total of ___ continuing education credits for each two year licensing period
24
an employer may qualify for health care tax credits through shop marketplace if that employer has fewer than how many employees
25
within how many days must a producer report to the commissioner any charges made against him/her?
30
in a long term care policy, the right to examine period is
30 days
the Pennsylvania health and life guaranty association protects life insurance death benefit claims up to
300,000
the pennsylvania life and health guaranty association protects life insurance death benefit claims up to
300,000
greg has recently been terminated from his job that covered him for group life insurance. how long does he have to convert his coverage to an individual plan
31 days
Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? $400 $800 $2,000 $4,000
4000
Ken is a producer who has obtained Consumer Information Reports under false pretenses. Under the Fair Credit Reporting Act, what is the maximum penalty that may be imposed on Ken?
5,000
in Pennsylvania a specified disease accident and health plan must provide a minimum benefit in the amount of
5000
No Long-Term Care policy may exclude pre-existing conditions for a period of more than
6 months
within how many days must a rollover be completed in order to avoid being taxed as current income
60
If a health insurance claim is not promptly paid, legal action may be taken against the insurer after
60 days from the date of proof of loss is furnished
what percentage of a participants income are group long term disability benefit amounts typically limited to?
60%
in Pennsylvania, HIPPA laws require that an individuals prior creditable coverage may reduce the maximum pre existing condition exclusion period that a new group health plan can apply. this rule is applicable as long as there has been no gap in creditable coverage for a period greater than
63 days
under the cobra, a terminated employees benefits must
BE THE SAME AND AND THE PREMEIUM CANNOT EXCEED 102%
what is the primary reason for buying an annuity
Provide future economic security
when collecting insurance premiums from a client, a producer must
forward premiums to the insurer on a timely basis
in Pennsylvania, what's the requirement for a minor to receive proceeds from a death benefit?
a guardian must be appointed
a producers license cannot be revoked without
a hearing given to the producer
which of the following employers is required to follow erisa regulations
a local electrical supply company with 12 employees
the cause of a loss is referred to as
a peril
hippa considers which of the following as "individually identifiable health information"
a persons health claim information
if an insureds age on a life insurance policy has been misstated what is the insurers liability if the insured dies?
a prorated death benefit based on the amount of insurance the insured premiums would have been if purchased at the correct age
which of the following is not considered advertising
a rating from a rating service company, such as am best
charging a client less premium than what is stated in their insurance policy is called
a rebate
which of these is considered to be a living benefit option in a life insurance policy
accelerated death benefit
a medical provider that accepts medicare assignment must
accept payment based upon a defined medicare schedule as payment in full
All of these are valid policy dividend options for a life insurance policyowner EXCEPT
accumulate without interest
all of these are valid policy dividend options for a life insurance policyholder except
accumulate without interest
kathys annuity is currently experiencing tax deferred growth until she retires. which phase is this annuity in?
accumulation period
a policy owner may change two policy features on what type of life insurance
adjustable life
for pennsylvania insurance code violations the commissioner may assess a(n)
administrative penalty
for pennsylvania insurance code violations, the commissioner may asses an
administrative penalty
How does life insurance create an immediate estate?
after first premium is paid, the face amount may be available to the beneficiary
When does an immediate annuity begin making payments? After multiple premiums have been paid After the first premium has been paid After policy has been active for one year After the incontestable period
after the first premium has been paid
the term which describes the fact that both parties of a contract may not receive the same value is referred to as
aleatory
an insurer formed according to the legal requirements of another country is considered
alien insurer
the waiver of premium does not include which provision
all future premiums are waived if the insured recovers from the disability
Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance expires,
all protection ends
What amount will be paid under a policy where the insured misstated his/her age?
an amount the premium would have purchased at the correct age
which of these may not be used in a health insurance advertisement
an insurance companies trademark instead of the companys actual name
all of these are considered forms of advertising except?
an insurers am best rating
Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called
annuity certain
which of the following is considered to be the period when the accumulated value in an annuity is paid out?
annuization phase
the deeds and actions of a producer indicate what kind of authority
apparent
the entire contract includes the actual policy and the
application
the difference between a long term care partnership plan and a non partnership plan is which of the following
asset protection
what is the difference between a long term care partnership plan and a non partnership plan
asset protection
Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him?
assisted living
a type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called
association or labor group
the commissioner has the right and duty to
audit insurer financial reports and conduct market studies
which of these factors is not taken into account when determining an applicants life insurance needs?
automobile
which of these factors would an insurer consider when determining whether to accept a group life plan? number of dependents incontestable period average age grace period
average age
a disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing
benefit limits
coverage for newborns under an accident and health plan must include coverage for
birth abnormalities
According to Pennsylvania law, which of the following is NOT considered to be personally identifiable financial information?
blind trust data that does not include names and addresses
what are the levels of coverage as defined by the affordable care act
bronze, silver, gold, platinum
an order issued by the commissioner that prohibits a specific practice listed in the order is called a(n):
cease and desist order
which of the following is considered to be an alternative to a life settlement
celebrated death benefit rider
What is issued to each employee of an employer health plan?
certificate
which of the following is not a part of an insurance contract
certificate of authority
the coverage, conditions and limitations in the master policy of a group contract can be found in which document
certificate of coverage and benefits
which of the following is a requirement for any change in an insurance application
change must be initiated by the applicant
which of the following is not a required provision in an accident and health insurance policy
change of occupation
when an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates
change of occupation provision
all of the following are elements of an insurance policy except definitions other insurance claim forms conditions
claim forms
in Pennsylvania, who is responsible for continuing education course content approval?
commissioner
Pat is insured with a life insurance policy and Karen is his primary beneficiary. They are both involved in an automobile accident where Pat dies instantly and Karen dies 5 days later. Which policy provision will protect the rights of the contingent beneficiary to receive the policy benefits? Nonforfeiture clause Common disaster clause Spendthrift clause Accident indemnity clause
common disaster clause
a waiver of premium rider allows an insured to waive premium payments if the insured is
completely and permanently disabled
which of the following would be considered an underwriting duty of an agent
completing all applications and collecting initial premiums
intentional withholding of material facts would affect an insurance policy validity is called a(n):
concealment
a health insurance policy where the insurer has the right terminate the policy for reasons other than the insureds health is called
conditionally renewable
Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident?
contingent beneficiary
an employee under a group insurance policy has the right to name a beneficiary and the right to
convert to an individual policy in the event of employment termination
____ is not an element of a valid contract
countersignature
Proceeds of the viatical settlement contract could be subject to the claims of
creditors
An example of a presumptive disability would be
deafness
the least expensive option to pay off a 30 year mortgage balance would be
decreasing term life
Premium mode is a term used to describe the
frequency of the premium payment
jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. her health care policy most likely contains a(n):
deductible
all of the following are examples of a business continuation plan except
deferred compensation
advertising regulations exist in order to
demonstrate full and truthful disclosures to the public
a hospital or medical expense policy will typically cover dental treatment expenses under which circumstance
dental treatments is needed to repair an injury
all of the following may be an unfair claims practice except:
denying an insureds fraudulent claim
what is the primary purpose of a rating service company such as AM best
determine financial strength of an insurance company
all of these are standard exclusions found in a life insurance policy except
disability
a medicare supplement policy must not contain benefits which
duplicate medicare benefits
benefits provided by a medicare supplement policy must not
duplicate medicare benefits
lisa has recently bought a fixed annuity. which of these is considered to be a disadvantage of owning this type of annuity
during periods of inflation, annuitants will experience a decrease in purchasing power of their payments
all of these are characteristics of a major medical expense policy except
elimination periods
which prohibited act involves a producer spending a clients insurance premiums for his/her own personal use
embezzlement
which of the following is not a federal requirement of a qualified plan
employee must be able to make unlimited contributions
under the health insurance portability and accountability act (HIPPA), the employees new group health plan will verify creditable coverage so that the
employees waiting period for coverage of a preexisting condition can be reduced under the new employers health plan
the policyholder for a group health benefit plan is considered to be the
employer
which of the following would be considered a possible applicant and contract policyholder for group health benefits
employer
a common exclusion or limitation on a dental policy is
endodontics
the limited period of time given to all members to sign up for a group health plan is called the
enrollment period
Level premium permanent insurance accumulates a reserve that will eventually equal the face amount of the policy pay a dividend to the policyowner require the policyowner to make periodic withdrawals become larger than the face amount
equal the face amount of the policy
which of the following is an annuity that is linked to a market related index
equity indexed annuity
which of these would limit a companys liability to provide insurance coverage
exclusion
which of the following is required to maintain a producers license in pennsylvania
field underwriter, who solicits insurance and earns a commission
after an insured gives notice of loss, what must he/she do if the insurer does not furnish forms?
file written proof of loss
a producer is meeting with a client to determine whether an annuity will be suitable for purchase. which of the following topics needs to be discussed with the client?
financial objectives
violations of us code title 18 section 1033 may result in
fine and or imprisonment
elizabeth is the beneficiary of a life insurance policy. she is receiving the death benefit in payments of 10000 per month until the principal and interest has been paid out. which option was chosen?
fixed amount
which of these annuities require premium payments that vary from year to year
flexible premium deferred annuity
a medicare supplement plan can be canceled by the insurer
for nonpayment of premiums
a (n) ___ insurance company is one that was formed under the laws of a state other than pennsylvania
foreign
Tom has a home health care benefit and is confined to his home. Which of these benefits is NOT typically covered?
full time nursing care
a group disability income plan that pays tax free benefits to covered employees is considered
fully contributory
which of these will typically authorize treatment from a specialist
gatekeeper
an insurer will accept a premium from the insured and continue the coverage in full force as though it was not late during which time period
grace period
a master contract and certificate of coverage can be found in which type of policy
group
Tom has a rider on his disability income policy that guarantees the right to increase his benefits without a medical exam. What kind of rider is this?
guaranteed insurability rider
barbras policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. this rider is called
guaranteed insurability rider
a health insurance policy that allows an insurer to change the policy owners premiums but not cancel the policy is called
guaranteed renewable policy
for licensing purposes if an applicant has a home or office location in the state of pennsylvania this would be consistent with which of the following
home state
which approach predicts a persons earning potential and determines how much of the amount would be devoted to dependents
human life value approach
the pennsylvania department of insurance may take each of the following actions except
incarceration
Simon has purchased a fixed immediate annuity. His payment amount will be dependent upon principal, interest, and the contract's
income period
simon has purchased a fixed immediate annuity. his payment amount will be dependent upon principal, interest and the contracts
income period
which of the following provisions protects a pennsylvania policy owner from an innocent mistake made on the application over 2 years ago
incontestability provision
which of the following protects a policy owner from a misrepresentation caused by an innocent mistake
incontestable clause
which of the following actions may an insurance company not do in a health policy that contains a guaranteed renewable premium benefit
increase the premiums on an individual basis
Which type of beneficiary should be named if the insured wants to give explicit directions on how the policy proceeds should be paid?
individual
which of the following is present when an applicant stands to lose value if the insured dies
insurable interest
in regards to a life insurance contract, which of the following statements is not true regarding the concept of insurable interest
insurable interest can be established by sufficiently by sentimental attachment alone
who is responsible for assembling the policy forms for insureds
insurance carriers
the do not call registry offers exemptions for calls placed from all of the following except
insurance sales calls
Ambiguities in an insurance policy are always resolved in favor of the
insured
who is required to notify the producer in an event of appointment termination?
insurer
which of these is not considered to be a nonforfeiture option in a whole life insurance policy
interest only
an example of a primary care physician would be an
internist
a non admitted insurer
is not afforded protection by the guaranty fund
what is the purpose for having an accelerated death benefit on a life insurance policy
it allows for cash advances to be paid against the death benefit if the insured becomes terminally ill
what happens to interest earned if an annuitant dies before the payout start date
it is taxable
the time limit for filing claim disputes is addressed in which provision of an accident and health policy
legal actions
When a decreasing term policy is purchased, it contains a decreasing death benefit and
level premiums
producer commissions may not be paid to
licensed and appointed producers
producer commissions may not be paid to
licensed producers not appointed by an insurer
which of these is not considered to be a common life insurance nonforfeiture option
life income annuity
a permanent life insurance policy where the policy owner pays premiums for a specified number years is called a
limited pay policy
Someone needing custodial care at home would require which type of coverage?
long term care
all ____ policies must be guaranteed renewable
long term care
what is involved when a life insurance policy has been backdated
making the policy effective on earlier date than the present
which of the following is considered to be a point of service (POS) plan
managed care plan
all of these are considered key factors in underwriting life insurance except
marital status
an employer is issued a group medical insurance policy. this single contract is known as
master policy
In contrast to a guaranteed renewable policy, a noncancellable policy
may never raise premiums
Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance?
medicare in hospital deductible
which of these gaps in medicare coverage is addressed with medicare supplemental insurance?
medicare in hospital deductible
which type of plan would be most appropriate for an individual on medicare and is concerned that medicare will not pay for charges exceeding the approved amount
medicare supplement plan f
the life and health guaranty corporation provides funds to carry out its powers and duties by assessing
member insurers
what would be an expense factor in an insurance program? Premiums collected mortality costs opportunity costs investment interest
mortality costs
a buyers guide and policy summery
must be delivered with or prior to policy delivery
a life insurance claim which involves a per capita distribution of policy proceeds would be payable to the
named living primary beneficiaries
a producer who sells insurance in Pennsylvania but resides in another state is called
nonresident producer
Shirley has a $500,000 10-year non-renewable level term life policy. If she dies 15 years after the policy's inception date, how much will her beneficiary receive?
nothing
what is the required action to be taken by a pennsylvania licensee before operating under an assumed business name
notify commissioner
which of these is not considered to be a risk factor in life insurance underwriting
number of children
which of the following is a violation of pennsylvania insurance law
offering insurance contracts through unlicensed entities
long term care insurance provides
one or more diagnostic, preventative, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital
long-term care insurance provides
one or more diagnostic, preventative, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital
which of the following is not an example of utilization review
ongoing inspection of accident prone individuals
A clause that allows an insurer the right to terminate coverage at any anniversary date is called a(n)
optional renewability clause
Richard owns an insurance policy that is renewable only at the option of the insurance company. His policy is considered to be: cancelable guaranteed renewable conditionally renewable optionally renewable
optionally renewable
the monthly benefit for an individual disability income policy is usually limited to a percentage of the insureds income in order to avoid
over insurance
Which clause defines total disability as being unable to perform the major duties of the insured's regular occupation?
own occupation clause
an interest sensitive life insurance policy owner may be able to withdraw the policy cash value interest free. the provision that allows this is called
partial surrender
the automatic premium loan provision authorizes an insurer to withdraw from a policys ash value the amount of
past due premiums that have not been paid by the end of the grace period
states that have "no loss no gain" laws require replacing policy to
pay for ongoing claims under the policy it replaces
which type of rider will waive the premium on a childs life insurance policy if the parent paying the premium dies
payor benefit
mortality is calculated by using a large risk pool of
people and time
Which annuity payout option allows the policyowner to choose a pre-determined number of benefit payments?
period certain
In what form do disability income policies typically pay benefits?
periodic income
Which type of disability would be less than total impairment and equal to permanent impairment?
permanent partial disability
which of these factors is not taken into consideration when determining the cost of a long term care policy ?
personal income
which of these factors is not taken into consideration when determining the cost of a long term care policy?
personal income
which of the following is not a common exclusion or a medical expense policy
physical therapy
which situation accurately describes a reduced paid up nonforfeiture option
policy has a decreased face amount
Variable Life Insurance and universal life insurance are very similar. which of these features are held exclusively by variable universal life insuramce
policy owner has the right to select the investment which will provide the greatest return
Medicaid is a government funded program designed to provide health care to
poor people
a person who is a nonsmoker of average weight and is in excellent health would most likely be in which risk classification
preferred
coordination of benefits regulation applies to all of the following plans except
preferred provider organization plan
Andy the annuitant dies before the annuity start date. Which of the following is a TRUE statement?
premiums paid plus interest earned is returned to the beneficiary
the federal employees benefit program consists of two types of health plans for federal civilian employees. the two plans are fee for service and
prepaid
which of the following does medicare part d cover?
prescription drugs
in most dental plans a deductible typically is not applied to
preventative and diagnostic services
All Health Benefit Plans issued after January 1, 2014 must provide
preventative health services
all of the following are functions of an insuring clause except
primarily describes the free look period
the ____ is responsible for determining the appropriateness of a medicare supplement policy for an applicant
producer
which of the following is a person who negotiates an insurance contract on behalf of an insurer
producer
what is required before an insurance producer can act as a representative of an insurer
producer needs to be appointed by that insurer
the branch of dentistry that deals with the replacement of missing parts is called
prosthodontics
the branch of dentistry which deals with the replacement of missing parts is called
prosthodontics
how are survivorship life insurance policies helpful in estate planning ?
provide funds to help pay taxes
Who is the individual paid on a fee-for-service basis?
provider
when comparing an hmo to a ppo, the ppo
provides a greater choice of providers
an indemnity plans
provides the insured a specific dollar amount for services
premiums that exceed 7.5% of an insureds adjusted gross income (AGI) are tax deductible when paid for which of the following plans
qualified long term care plan
all of the following are considered to be nonforfeiture options available to a policy owner except
reduction of premium
an annuitant dies during the distribution period. what kind of annuity will return to a beneficiary the difference between the annuity value and the income payments already made?
refund annuity
any of the following may be an unfair claims practice except
refusing to pay personshringing false or fraudulent claims
a transaction in which a new life insurance policy is purchased and an existing life insurance policy is surrendered is called
replacement
what are an applicants statements concerning occupation, hobbies and personal health history regarded as
representation
all statements in an insurance application, in the absence of fraud, are considered
representations
Under the subrogation clause, legal action can be taken by the insurer against the
responsible third party
An annuity is primarily used to provide
retirement income
an individual who removes the risk of losing money in the stock market by never purchasing stocks is said to be engaging in
risk avoidance
term insurance is appropriate for someone who
seeks temporary protection and lower premiums
long term care policies may provide coverage for claims arising from
senile dementia
the Pennsylvania insurance department is responsible for each of the following except:
shareholders
all of the following actions are considered rebating except
sharing commissions with other licensed and appointed producers
health insurance involves two perils, accident and
sickness
in Pennsylvania, a producer may have their license revoked for which of the following acts
signing a prospects names without their knowledge or presence
in pennsylvania an insurer may backdate policy issue not more than how many months from the date of a life insurance policy
six months
Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called
skilled nursing care
generally speaking, which three levels of care are long term care policies provided with
skilled nursing, intermediate, and custodial care
which of the following is not a type of medicare advantage plan
social security disability income
a life insurance producer licensed in the commonwealth of pennsylvania is authorized to
solicit, receive and forward applications to the insurer
what does a life insurance policy guarantee to the stated beneficiary upon death of the insured?
specified amount of money
a(n) _________ company is owned exclusively by its shareholders
stock
a nonparticipating company is sometimes called a
stock insurer
all of the following are exempt from the 10% tax penelty for early qualified plan withdrawals except
stock purchase
which of these will have the highest monthly payout upon annuitization?
straight life
The type of multiple protection coverage that pays on the death of the last person is called a(n) joint life policy survivorship life policy annuity joint policy dual life policy
survivorship life policy
Justin is receiving disability income benefits from a group policy paid for by his employer. How are these benefits treated for tax purposes?
taxable incomes
Kristi purchases an annuity that will pay her husband an income for 15 years. If he dies, this income will become payable to their children for the remainder of the period. Kristi has what kind of annuity?
temporary annuity certain
which of the following is typically not eligible for coverage in a group health policy
temporary employee
which of the following policies does not build cash value?
term
a producer does not have the fiduciary responsibility to
the Pennsylvania guaranty association
which of these statements regarding the annuitant is true
the annuitants life expectancy determines the annuity payments
which of these is not a characteristic of the accelerated death benefit option
the benefit can be offered as a rider at a specific extra cost or may be at no cost
Bill the producer is collecting the initial premium on a health policy. Which of the following statements is true?
the contract is not in force without the initial premeium being paid
bill the producer is collecting the initial premium on a health policy. which of the following statements is true?
the contract is not in force without the initial premium being paid
this mandatory health policy provision states that the policy, including endorsements and attached papers, constitutes
the entire insurance contract between the parties
when calculating the amount of life insurance needed for an income earner, what has to be determined when using the needs approach
the family financial objectives if the income earner were to die or become disabled
in which of the following situations would the insurer be liable for a loss
the insured suffered an injury as an innocent bystander during a bank robbery
a licensee can have his/her license denied or revoked by the commissioner if
the licensee has committed insurance related fraud or dishonesty
Pre-death distributions from a modified endowment contract (MEC) receive different tax treatment than other life insurance policies because
the mec tends to be an investment vehicle
which of the following statements about the contestability of a life insurance policy is true
the policy can be contested by the insurer only during the first two years of the contract
Pat owns a 20-pay life policy with a paid-up dividend option. Which of the following statements is true?
the policy may be paid up early by using policy dividends
a life insurance illustration showing future premiums being paid out of nongaurenteed values must disclose that
the policy owner may need to resume premium payments depending on actual results
If the annuitant dies before the annuity start date,
the premiums paid plus interest earned will be given to the beneficiary
Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the term insurance expires,
the protection ends
Who were Keogh plans designed to provide pension benefits for?
the self employed
Legal purpose is a term used in contract law meaning
there mist be legal reasons for entering a contract
one role of the commissioner is
to enforce state insurance laws
in an insurance contract, the insurer is only partly legally obligated to preform. because of this, an insurance contract is considered
unilateral
a life insurance policy that contains a guaranteed interest rate with the chance to earn a rate that is higher than the guaranteed rate is called
universal life
a partial surrender is allowed in which of the following life policies?
universal life
Joe has a life insurance policy that has a face amount of $300,000. After a number of years, the policy's cash value accumulates to $50,000 and the face amount becomes $350,000. What kind of policy is this?
universal life policy
Craig submits a $500 claim for medical expenses. With a past due premium of $100, the insurer pays $400. Which of the Uniform Optional Provisions covers this situation?
unpaid premium
"maximum benefits" refers to the
upper limit of the total lifetime benefits the insurance company will pay
A securities license is required for a life insurance producer to sell
variable life insurance
which type of policy combines the flexibility of a universal life policy with investment choices?
variable universal life policy
life insurance may make an immediate benefit payment before the insured dies in which transaction?
viatical settlement
agreements made by terminally ill persons to sell their life insurance policies at a discount in order to pay medical expenses are called
viatical settlements
what is the primary factor that determines the benefits paid under a disability income policy
wages
when can a group health policy renewal be denied according to the health insurance portability and accountability act (hippa)
when contribution or participation rules have been violated
a 70-year old insured individual has suffered from kidney failure for the past 24 months. she is covered by her spouses large group employer plan. how will medicare be utilized in this situation
will be the secondary insurer and pay for claims not fully covered by the group plan
Shawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering all three of their lives. If Mike dies first, the policy proceeds will no longer provide insurance protection will go to Mike's estate will be divided by probate will not be paid until the last brother dies
will no longer provide insurance protection
pennsylvania law requires that an insurer must notify the commissioner of a producer appointment termination
within 30 days of termination
Loans obtained by a policyowner against the cash value of a life insurance policy are treated as taxable income would not be treated as taxable income are limited by the face amount of the policy would be subject to a Federal estate tax
would not be treated as taxable income
