General Life Insurance Concepts Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Course
General Life Insurance Concepts
Institution
General Life Insurance Concepts
In which of the following instances would the premium be tax deductible?
-:- Premiums paid by an employer on a $30,000 group term life insurance plan for
employees
The provision in a health insurance policy that ensures that the insurer cannot refer to any
document that is not contained in t...
General Life Insurance Concepts Questions &
100% Correct Answers- Latest Test | Graded
A+ | Passed
In which of the following instances would the premium be tax deductible?
✓ -:- Premiums paid by an employer on a $30,000 group term life insurance plan for
employees
The provision in a health insurance policy that ensures that the insurer cannot refer to any
document that is not contained in the contract is the
✓ -:- Entire contract clause.
Under the Fair Credit Reporting Act, if the consumer challenges the accuracy of the
information contained in his or her report, the reporting agency must
✓ -:- Respond to the consumer's complaint.
An insured had a $10,000 term life policy. The annual premium of $200 was due on
February 1; however, the insured failed to pay the premium. He died on February 28. How
much would the beneficiary receive from the policy?
The insured had his wife named as the beneficiary of his life insurance policy. To ensure
that his wife had income for life after the insured's death, he chose the life income
settlement option. The amount of payments will be determined by taking into account all
of the following EXCEPT
✓ -:- The insured's age at death.
Which of the following applies to partial disability benefits?
✓ -:- Payment is limited to a certain period of time.
If only one party to an insurance contract has made a legally enforceable promise, what
kind of contract is it?
✓ -:- Unilateral
An insured's long-term care policy is scheduled to pay a fixed amount of coverage of $120
per day. The long-term care facility only charged a $100 per day. How much will the
insurance company pay?
✓ -:- 120 a day
Long-term care coverage may be available as any of the following options EXCEPT
✓ -:- Endorsement to a health policy.
2|Page | Grade A+| 2024/2025
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