South Carolina Insurance Exam/ 108 Questions with Definitive Solutions.
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Course
South Carolina Insurance
Institution
South Carolina Insurance
South Carolina Insurance Exam/ 108 Questions with Definitive Solutions. Terms like:
An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? - Answer: Inflation protection
Which of these riders will pay a death benefit if the insured's sp...
South Carolina Insurance Exam/ 108 Questions
with Definitive Solutions.
An insurer is REQUIRED to offer which of the following to each long-term care applicant at the
time of purchase? - Answer: Inflation protection
Which of these riders will pay a death benefit if the insured's spouse dies? - Answer: Family
term insurance rider
Disability income plans which require that the insurer can NEVER change or alter premium rates
are usually considered - Answer: Nonconcellable
What is the required action to be taken by a South Carolina licensee before operating under an
assumed business name? - Answer: Notify the Director
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
paid - Answer: minus indebtedness and without interest
Page 1 of 14
, If an annuitant dies before the annuity start date - Answer: the premiums paid plus interest will
be given to the beneficiary
The purpose of the Coordination of Benefits provision in group accident and health plans is to -
Answer: avoid overpayment of claims
The typical long-term care insurance policy is designed to provide a minimum of___year(s) of
coverage - Answer: 1
Decreasing term life insurance is often used to - Answer: provide coverage for a home mortgage
Which type of life insurance policy pays the face amount at the end of the specified period if the
insured is still alive? - Answer: Endowment policy
A life insurance policy normally contains a provision that restricts coverage in the event of death
under all of the following situations EXCEPT - Answer: fare-paying passenger
All _____ policies must be guaranteed renewable. - Answer: long-term care
What type of injury would NOT be covered under a health insurance policy? - Answer: Work
related
All of these are common exclusions to a life insurance policy EXCEPT - Answer: accidental health
Which of the following decisions would a Health Savings Account (HSA) owner NOT be able to
make? - Answer: The amount contributed by the employer
A whole life insurance policy accumulates cash value that becomes - Answer: the policy loan
value which the insured may borrow against
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