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Health Ch. 8 LOUISIANA LAWS AND RULES correctly solved
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Health Ch. 8 LOUISIANA LAWS AND RULES correctly solved
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Health Ch. 8 LOUISIANA LAWS ANDRULES
A Louisiana insurance producer solicits a life insurance policy. In the event of a controversy between the
insured and the company, the producer is considered to represent the
insured
beneficiary
company
policyholder - correct answer ✔✔company
When a producer is replacing an existing ordinary life insurance policy, the producer must take all of the
following actions EXCEPT
give the applicant a Notice Regarding Replacement of Life Insurance
give the applicant the original or a copy of the proposals used in the sales presentation
obtain the beneficiary's signature on a summary of all policies to be replaced
submit to the producer's insurance company a copy of the Notice Regarding Replacement of Life
Insurance signed by the applicant - correct answer ✔✔obtain the beneficiary's signature on a summary
of all policies to be replaced
Each policy of life insurance shall contain a provision that a grace period shall be allowed within which
the payment of any premium after the first may be made. The standard grace period shall be
15 days
30 days
45 days
60 days - correct answer ✔✔30 days
, In order to qualify for a company convention, an insurance producer agrees to pay the first quarterly
premium for the applicant for new insurance. This is called a
gift
rebate
loan
cost of doing business - correct answer ✔✔rebate
When may a producer first solicit insurance?
When licensed by the Insurance Commissioner
After registering for the insurance exam
When appointed by an insurer
At any time - correct answer ✔✔When appointed by an insurer
In order to solicit insurance, an individual MUST achieve all of the following EXCEPT
pass the insurance exam
be at least 21 years of age
be appointed by insurance company
be of good character and trustworthy - correct answer ✔✔be at least 21 years of age
An insurer, in general business practice, fails to promptly provide a reasonable explanation for the denial
of a claim. This is considered to be
a contractual liability
an unfair claim settlement practice
a violation of the grace period provision
a fraudulent insurance act - correct answer ✔✔an unfair claim settlement practice
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