Missouri Life and Health Exam Correct Questions & Answers(RATED A+)PACKAGE DEAL

Insurance policies are considered aleatory contracts because: 1)they are take it or leave it contracts 2)both parties consent to the contract 3)performance is conditioned upon a future occurence 4)the contract is voidable upon proof of fraud - ANSWER Performance is conditioned upon a future occu...

In a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights - ANSWER insuring clause under which circumstance MUST a health insurer have an expedited grievance review proc...

Which of the following types of care is typically not covered in a Long-Term Care policy - ANSWER Accupuncture S is close to retiring and would like to purchase a policy that will yield greater gains than bonds, but will still protect the principal with minimum level or risk. Which product would ...

any transaction which new life insurance or a new annuity is purchased - ANSWER Replacement is the company that issuse the new policy - ANSWER Replacing insurer is the company whose policy is being replace - ANSWER Existing insurer that is signed by both the applicant and the producer a cop...

Whose interest is being protected by the enactment of " The Replacement of Life Insurance and Annuities" regulation? - ANSWER policyowner Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until Fe...

Accelerated Benefits - ANSWER Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses Accident - ANSWER An unplanned, unforeseen event which occurs suddenly and at an unspecified place Accident Insurance - ANSWER A type of...

Adverse Selection - ANSWER insuring of risks that are more prone to losses than the average risk agent/producer - ANSWER legal representative of insurance company producer - ANSWER includes agents and brokers agent - ANSWER agent of the insurer applicant - ANSWER a person applying for in...

The accelerated death benefit provision in a life insurance policy is also known as a(n): - ANSWER Living benefit. Under an individual health insurance policy, the time limit of certain defenses provision states that nonfraudulent misstatements first become incontestable two years: - ANSWER from ...

Refers to the location, or jurisdiction, where an insurer is formed or incorporated. - ANSWER Domicile Which of the following is an insurance company that is organized under the laws of another state within the United States? - ANSWER Foreign The USA Patriot Act was passed as a result of - AN...

401(k) Plan - ANSWER A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - ANSWER Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A...