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PSI - NY Life, Accident and Health Practice Exam 17-55 Questions With 100% Correct Verified Answers $13.49   Add to cart

Exam (elaborations)

PSI - NY Life, Accident and Health Practice Exam 17-55 Questions With 100% Correct Verified Answers

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  • Course
  • Accident And Health Insurance Agent
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  • Accident And Health Insurance Agent

PSI - NY Life, Accident and Health Practice Exam 17-55 Questions With 100% Correct Verified Answers

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  • December 3, 2022
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • psi ny life
  • Accident And Health Insurance Agent
  • Accident And Health Insurance Agent

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By: tammyalga • 1 year ago

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PSI - NY Life, Accident and Health Practice Exam 17-
55 Questions With 100% Correct Verified Answers




Which policy provision permits the policy owner to take a specified number of days to examine the
contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs?
- Free Look



When will a policy pay on a UCR basis? - When particular benefits are not listed on a payment
schedule



Which type of rider reimburses health and social service expenses incurred in a convalescent or
nursing home facility? - long term care rider



Which of the following is exempted from the incontestability provision in insurance policies? -
Fraudulent misstatements



What does first dollar coverage mean? - As soon as covered medical expenses are incurred, the
policy begins to pay



What is the waiver of premium provision? - In a long term care contract, the premium is waived
after the insured has been confined for a specific period of time



According to the Time Payment of Claims provision, the insurer must make the payment
immediately after receiving proof of loss EXCEPT - for claims involving periodic payments



Which is a disadvantage to a flexible premium annuity? - the actual amount of the annuity benefit
cannot be determined in advance

, When a policy or certificate containing an accelerated benefit provision is applied for or delivered,
the producer is responsible for providing that applicant a summary of coverage that includes all of
the following EXCEPT - a detailed and comprehensive summary of the accelerated benefit



which one of the following represents an advantage of obtaining a policy loan versus a withdrawal?
- the loan is not taxed while a withdrawal is taxed for amounts above the contract cost basis



How does a noncancelable policy differ from a guaranteed renewable policy? - with the non
cancelable policy the insurer may increase premiums only based on the terms of the policy



What does it mean if a health policy is conditionally renewable? - Insurer may elect NOT to renew
only under the conditions specified in the policy



When the suicide clause is inserted in a life insurance contract, death by suicide is not covered
during the policy's initial: - 2 year period



What does coinsurance mean? - The insurer and the insured share expenses over the deductible.



Which of the following must be given to the insurer within 20 days after occurrence or
commencement of any loss covered by the policy, or as soon thereafter as is reasonably possible? -
Notice of claim



The right to change the beneficiary or dispose of the policy or its benefits in any manner one
chooses is reserved to the policy owner UNLESS which of the following is true? - The policy owner
has named an irrevocable beneficiary



Which of the following refers to how often a premium is paid? - Mode



All of the following are common exclusions from loss found in disability income policies EXCEPT for
that incurred while - Committing a misdemeanor

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