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michigan life and health Variable life insurance and Universal life insurance are very similar. Which of these features are held exclusively by variable universal life insurance? - answersPolicyowner has the right to select the investment which will provi$41.99
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michigan life and health Variable life insurance and Universal life insurance are very similar. Which of these features are held exclusively by variable universal life insurance? - answersPolicyowner has the right to select the investment which will provi
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Course
American allied health
Institution
American Allied Health
michigan life and health
Variable life insurance and Universal life insurance are very similar. Which of these features are held
exclusively by variable universal life insurance? - answersPolicyowner has the right to select the
investment which will provide the greatest return
Joe is a Medicare...
michigan life and health
Variable life insurance and Universal life insurance are very similar. Which of these features are held
exclusively by variable universal life insurance? - ✔✔answers✔✔Policyowner has the right to select the
investment which will provide the greatest return
Joe is a Medicare participant who receives his benefits through a Managed Health Care Plan. Which
Medicare plan does he have? - ✔✔answers✔✔part c
A fee for service health insurance plan will normally cover - ✔✔answers✔✔a disease
a limited payment whole life policy provides - ✔✔answers✔✔lifetime protections
a dread disease policy is considered to be a type of - ✔✔answers✔✔limited health insurance policy
the suicide clause of a life insurance policy states that if an insured commits suicide within a stated
period from the policy's inception, the insurer will only be liable for a return of premiums -
✔✔answers✔✔minus indebtedness and without interest
Consumer privacy regulations permit the release of an insured's financial information when? -
✔✔answers✔✔An authorized agency makes a written request to the insurer during an insurance fraud
investigation
Which type of life insurance policy pays the face amount at the end of the specified period if the insured
is still alive? - ✔✔answers✔✔Endowment Policy
According to the Michigan Insurance Code, which of the following MUST a producer do when replacing a
Life Insurance Policy? - ✔✔answers✔✔Submit to the replacing insurer a list of all Life Insurance policies
or annuity contracts proposed to be replaced
A policy owner suffers an injury the renders him incapable of performing one or more important job
duties. Any decrease in income resulting from this injury would make him eligible for benefits under
which provision? - ✔✔answers✔✔Partial Disability
,A pharmacy benefit covers prescription drugs derived from list called a(n) - ✔✔answers✔✔Drug
Formulary
All of the following are examples of a Business Continuation Plan except - ✔✔answers✔✔Deferred
Compensation
Which of the following actions MUST be taken by producers - ✔✔answers✔✔Pay premiums due to
insurers on a timely basis
Rob has a benefit at work which enables him to defer his current receipt of income and have it paid at a
later date, when he will probably be in a lower tax bracket. Which benefit fits his description? -
✔✔answers✔✔Deferred Compensation Option
What does
How do interest earnings accumulate in a deferred annuity - ✔✔answers✔✔On a tax-deferred basis
a licensee who is required to take continuing education Must include how many ethics coursework hours
- ✔✔answers✔✔3
the automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value the
amount of - ✔✔answers✔✔Past due premiums that have not been paid by the end of the grace period
health insurance involves two perils, accident and ______ - ✔✔answers✔✔sickness
Who is responsible for assembling the policy forms for insureds - ✔✔answers✔✔Insurance carriers
a securities license is required for a life insurance producer to sell - ✔✔answers✔✔variable life insurance
Which of the following is NOT an illegal inducement - ✔✔answers✔✔giving the insured an article of
merchandise printed with the producers name costing 5$
, Which of the following is NOT a federal requirement of a qualified plan? - ✔✔answers✔✔employee
must be able to make unlimited contributions
Which dividend option would an insurer invest the policy owner's money and add any interest earnings
as the dividends accrue? - ✔✔answers✔✔Accumulation at interest option
a health insurance policy will typically cover - ✔✔answers✔✔preventative health services
a life insurance policy owner was injured in a car accident which results in a total and permanent
disability. which rider would pay a monthly amount because of this disability? - ✔✔answers✔✔Disability
income rider
in addition to the actual policy, an entire contract includes which of the following? - ✔✔answers✔✔the
application
field underwriting preformed by the producer involves - ✔✔answers✔✔completing the application and
collecting initial premium
Kathy pays a monthly premium on her health insurance policy. How long is her grace period? -
✔✔answers✔✔10 days
Pierre is covered by his employer's group major medical plan. His employer pays for 75% of the premium
and he pays for 25%. How much would a $10,000 benefit be taxable as income under this plan? -
✔✔answers✔✔0$
-benefits that fall under a major medical plan are considered to be a reimbursement for a loss, and is not
taxable as income
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? -
✔✔answers✔✔file a written proof of loss
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