Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? 1. Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. A producer's secretary who solicits prospects on the telephone, When a producer is replacing an existing ordinary life insurance policy, the producer must take all of the following actions EXCEPT, In Maryland, a full-time employee of a small employer MUST work an average of at least _____ per week, A producer may begin to solicit insurance ONLY when. C. Remain of their current coverage for 30 months. What is the contract called that is issued to an employer for a Group Medical Insurance plan? The premium for a Modified whole life policy is, How long is the Contestable Period for health insurance policies sold in New Jersey, An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of. a producers secretary who solicits prospects on the telephone Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. Using derogatory statements about an insurance company's financial condition. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. D. Licensedproducers not appointed by an insurer. How long is the Contestable Period for health insurance policies sold in Maryland? Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? Which of these if NOT considered a form of life insurance advertisement? Please select the correct language below. Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. B. \\ Eventually, they retire and dissolve the business. Level premium permanent insurance accumulates a reserve that will eventually, Ambiguities in an insurance policy are always resolved in favor of the, Chapter 11 Exam - New Jersey Laws and Rules, Life Insurance Policies - Provisions, Options, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Daniel F Viele, David H Marshall, Wayne W McManus. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). A licensed producer is required to file notice of any change of address within how many days? The taxable portion of each annuity payment is calculated using which method? Kathy pays a monthly premium on her health insurance policy. The insurer's obligation to pay a death benefit upon an approved death claim, Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. The policy's effective date is earlier than the present, A Renewable Term Life insurance policy can be renewed, At a predetermined date or age, regardless of the insured's health, A producer's secretary who solicits prospects on the telephone. \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ Which situation accurately describes a reduced paid-up nonforfeiture option? a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. The company did not retire any bonds or repurchase any of its own common stock during the year. If Jay were to receive a fee for this advice (in addition to his commission), he MUST, Obtain a signed memorandum from the prospect acknowledging the amount of compensation. Maria the agent would like to advertise an annuity product on a highway billboard. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). Within how many days must a producerreport to the commissioner any administrative actions made against him/her? What happens when an insurance policy is backdated? What is this an example of? Course Hero is not sponsored or endorsed by any college or university. Hill during her initial calls made to the call center. 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. Insurance/Healt Agent Exam Flashcards - Cram.com In the event of employment termination, group insurance can be kept if the employee pays the premiums. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? a. Theinsured skipped a payment beyond the 31 day grace period, b. Theinsured was injured while participating in an illegal occupation, c. Theinsured was given a notice of cancellation from the insurer, d. Theinsured suffered an injury as an innocent bystander during a bank robbery. AnIndividual can enroll in a part C Medicare Advantage Plan at what time? In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? Duringthe accumulation period, who can surrender an annuity? This is an unlawful practice known as, must be delivered with or prior to policy delivery. The right-to-examine period in Maryland for long-Term Care polices is ___ days. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? CashandcashequivalentsAccountsreceivableInventoryTotalcurrentassetsProperty,plant,andequipmentLessaccumulateddepreciationNetproperty,plant,andequipmentTotalassetsAccountspayableIncometaxespayableBondspayableCommonstockRatainedearningsTotalliabilitiesandstockholdersequityEndingBalance$48,00041,00055,000144,000150,00050,000100,000$244,000$32,00025,00060,00070,00057,000$244,000BeginningBalance$57,00044,00050,000151,000140,00035,000105,000$256,000$57,00028,00050,00060,00061,000$256,000. Which of the following is NOT part of an insurance contact? Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. Producers must complete a total of ____ continuing education credits for each two-year licensing period. Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? Unit 4 Assign Rubric Impact of Colonial Experience (2).pdf, 0B1FC21B-547A-410E-8D8F-64E2A8C35084.jpeg, My Path Assessment Editor _ WorldQuant University.pdf, Oral liquid 50 microgramsml Tablet 625 micrograms 250 micrograms epinephrine, spirit its source is what constitutes religion This can be traced to the, Write in a brief description for the bubbles with underlined words 2 Choose a, BUS 1021 Organizational Behavior (OB) Consulting Assignment.edited11.docx, lOMoARcPSD11771818 True or False The above plot shows clear evidence that the, 2 Non tariff barriers which are further classified into two categories a, CTS115 - Chapter 5 - Case Study - Denial of Service -Moss.docx, The fallacy described as a red herring is most similar to a False cause b, Copy of Algebra Unit 2, Concepts 1, 2, 3.pdf, The model is used to describe the interaction of external forces that affect an, EVM Presentation - Project Management .pptx, What is the shape usually used to refer to the curve that illustrates. A silver level medical plan is what percent the insurance company pays for the employee and the other percent is what the employee pays out of pocket (Unders Insurance companies look at a number of factors when it comes to setting premiums for a particular company. Which of the following does Coordination of Benefits allow? How long is her grace period? Which of the following statements is CORRECT regarding an individual applying for life or health insurance? An insurance producer is issued a _____ as evidence of authority. The face amount will remain constant and thepremium will increase over the 10-year period, C. The Premium will remain constant and the faceamount will increase over the 10-year period. What will the beneficiary receive if an annuitant dies during the accumulation period? Which of these is likely to occur when life or health insurance is being applied for? Tarathe producer is delivering a specified disease insurance policy to a new policyowner. Which of the following is the likely result? What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? Whowere Keogh Plans designed to provide pension benefits for? Which of thesestatements is true? A producer's license may only be suspended or revoked if the producer, one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital, Long-term care policies sold in Maryland may exclude coverage related to, The Life and health Guaranty Corporation provides funds to carry out its powers and duties by assessing, As of January 1, 2014, small group health insurance can be rated on the basis of, An individual covered under a Blue Cross Blue Shield plan is called a, An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a, Funding for Medicare Part B is partially provided by, Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility, MEWA (Multiple Employer Welfare Arrangement), Small employers who are sponsored by an insurer to provide group benefits to its employees are called. D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. B.Change must be initialed by the applicant. Bob and Tom start a business. An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of, An ____ _____ sells, solicits, or negotiates insurance contracts for compensation, All of these activities require an individual to hold a producer's license EXCEPT, Jim recently sold his whole life insurance policy under a viatical settlement contract. Craig submits a $500 claim for medical expenses. Who is required to notify the producer in the event of appointment termination? A prorated death benefit based on the amount of insurance the insured's premiums would have been if purchased at the correct age, A guaranteed issue insurance policy has no, A single premium cash value policy can be described as, A policy that is paid up after only one payment. she may need to resume premium payments, depending on actual results, Kiara filled out a life insurance application and was given a policy illustration that showed future premiums being paid out of non guaranteed values. Which of the following would be considered a "dependent child"? Whichof these benefit options would he choose? This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes, The entire insurance contract between the parties, All of the following are elements of an insurance policy EXCEPT. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. Unintentionally misrepresented a material fact on the application. Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? When initial premium is collected and policy is issued. 1. C.) Unintentionally misrepresented a material fact on the application. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. Whendoes a life insurance policy typically become effective? The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. What would be an expense factor in a insurance program? D. The face amount and premium will remain constantover the 10-year period. A closed network plan offers a primary physician copay of $25. If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? A. Atourist traveling abroad on a major airline carrier, B. Anindividual who has a hobby racing cars once a month, C. Anairline pilot who flies for a commercial carrier, B. AnIndividual who has a hobby racing cars once a month. port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador She paid the premium on May 15 with the policy indicating the effective date being May 30. Replacement regulation is designed to protect the interests of, A health insurance policy that allows an insurer to change the policyowner's premiums, but NOT cancel the policy is called. An insurance company's trademark instead of the company's actual name, Using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy, Field underwriting performed by the producer involves, Completing the application and collecting initial premium. The benefit can be offered as a rider at a specific extra cost or may be at no cost, All of the following are included as part of a contract in the entire contract provision EXCEPT the. Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to asA)twistingB)subrogationC)a life settlementD) coercion. What is the purpose of a disability income benefit? Which of the following is a requirement for ANY change in an insurance application? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. Both May and John are injured. Pre-existing conditions may only be excludes from coverage for a maximum of 6 months, The reinstatement provision in a health insurance policy is, The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called, Naming a contingent beneficiary as "all surviving children" is describing by which term, The entire contract includes the actual policy and the. \\ Bob dies 12 months later. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ a producers secretary who solicits prospects on the telephone. An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Which type of contract may NOT be issued by an insurance company? \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ B. Gainsare tax exempt at distribution. a producers secretary who solicits prospects on the telephone. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. Which of the following may be used as continuation education credit? No federal income tax is owed on life insurance proceeds, A non-contributory health insurance plan helps the insurer avoid, States that have "no loss no gain" laws require a replacing policy to, Pay for ongoing claims under the policy it replaces. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? June 24, 2022 . Pay for Medicare charges exceeding the approvedamount. In Maryland, a Producer may have his/her license revoked for which of the following acts? When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Which of the following does Medicare Part D cover? Which military service exclusion clause would pay upon his death?
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