Xcel ch 19 laws and rules
in the state of Michigan, properly filed Health claims that are not timely paid require the insurer to pay simple interest from a date 60 days from satisfactory proof of loss at the rate of
12% per annum
a producer MUST be appointed by the insurer within how many days from the date the agency contract application is submitted?
15
in Michigan, legal action can be taken against an insurer for failure to pay HEALTH insurance claims for a period not to exceed
3 years
the acceptance of a credit Life Application requires the submission of a Certificate of Insurance to the insured within ___ days
30
in Michigan, legal action can be taken against an insurer for failure to pay LIFE insurance claims for a period not to exceed
6 years
a producers license has been suspended due to failure of completing the required continuing education credits. The license may be activated by completing the CE requirement within how many days of the renewal date?
90
group dental plans will frequently place of limit on annual benefits in order to minimize
adverse selection
an Indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called
coinsurance
which of the following does restorative dental treatment cover?
crowns
when MUST a newborn child be covered under an existing health insurance policy?
immediately
a Medicare supplement policy issued in the state of Michigan is required to provide each of the following exce a Medicare supplement policy issued in the state of Michigan is required to provide each of the following EXCEPT
it must include outpatient prescription drug coverage CORRECT: it must cover intermediate and outpatient care for substance abuse, it must be guaranteed renewable, it must have a free-look period of 30 days
small employer group coverage is NOT required to be renewed in each of the following circumstances EXCEPT
number of claims exceed threshold CORRECT: intentional misrepresentation, non-compliance with minimum participation requirements, small employee insurer no longer offers that type of coverage
under workers compensation, injured employees are covered for all of the following issues EXCEPT
pain and suffering CORRECT: loss of wages, medical expenses, occupational illnesses
which of the following actions MUST be taken by producers
pay premiums due to insurers on a timely basis
according to the Michigan Insurance code, which of the following MUST a producer do when replacing a life insurance policy?
submit to the replacing insurer a list of all the life insurance policies or annuity contracts proposed to be replaced
the unfair trade practice of replacing an insurance policy from one insurer to another based on misrepresentation is called
twisting
