Exam (elaborations)
LTC EXAM 2024
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Exam of 3 pages for the course LTC at LTC (LTC EXAM 2024...)
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LTC EXAM 2024QuietCare® is long-term insurance offered through Northwestern
Long Term Care Insurance Company (a subsidiary of The
Northwestern Mutual Life Insurance Company), and the Accelerated
Care Benefit is offered through The Northwestern Mutual Life
Insurance Company. - ANSWER True
NLTC is required to offer inflation protection with benefit levels that
increase 5% compounded annually. - ANSWER true
The NM ACB rider does not include inflation protection coverage. -
ANSWER True
QuietCare® policies are guaranteed renewable, which means: -
ANSWER d. Both A and C
A medical condition that is progressive in occurrence, long-term in
duration, and non-rehabilitative in nature is known as a: - ANSWER
Chronic
The following statements are true about long-term care premiums: -
ANSWER d. Both A and B
Generally, which statement(s) best describe(s) the tax treatment of
tax-qualified long-term care insurance policies? - ANSWER b.
Benefits are not taxed as income
A QuietCare policy is intended to be tax-qualified long-term care
insurance, while the NM ACB rider is not intended to be tax-qualified
long-term care insurance. - ANSWER True
In order to sell long-term care insurance through Northwestern Long
Term Care Insurance Company and ACB through Northwestern
Mutual, all of the following things must happen EXCEPT: - ANSWER
c. The financial representative must have a Series 6 license; valid in
the state where the sale is to be made.
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