Maine insurance - Study guides, Class notes & Summaries

Contributory Health Insurance - correct answer If the employees share a portion of the premium. Often require participation by 75% of eligible members. Noncontributory Health Insurance - correct answer If the employer pays the entire premium. Most require 100% participation by eligible members. (Funding of Group Insurance) Shared funding - correct answer Allows employer to self-fund health care expenses, select a deductible and pay covered expenses for any individual incurring claims up to...

Maine Life Insurance Exam Questions With Complete Solutions. Contributory Health Insurance If the employees share a portion of the premium. Often require participation by 75% of eligible members. Noncontributory Health Insurance If the employer pays the entire premium. Most require 100% participation by eligible members. (Funding of Group Insurance) Shared funding Allows employer to self-fund health care expenses, select a deductible and pay covered expenses for any individual incurring ...

The superintended of insurance is appointed by the governor for how many years?Answer - 5 Insurers must be examined at every...Answer - 3-5 years Hearings must be held within how many days after application is filed every...Answer - 30 days Notice of hearing must how many days in advance?Answer - 14 days A superintendent's order may be applied within how may days by person party to hearing...Answer - 30 days Superior court civil penalties- minimum fine per insurance code vio...

What regulates the insurance business in Maine? Answer - Bureau of Insurance Who selects the Superintendent of Insurance? Answer - The Governor Duties of the Superintendent of Insurance (Maine)? Answer - -Investigating the affairs of anyone engaged in the insurance business in Maine -Issuing certificates of authority to transact insurance business in Maine -Enforcing Maine's insurance laws and regulations Writing Maine's insurance laws is not a duty of the Superintendent? True or F...

Maine Insurance - Questions Frequently Missed (Answered) Correctly 2024!! How much time does a person who was a party to a hearing have to appeal the order by the Superintendent? 30 days As a prerequisite to maintaining a license, licensees must complete a continuing education requirement every: 2 years If Jerry's insurance producer's license expires, how much time does he have to be reinstated without retaking the Maine insurance licensing examination? 2 years What is the maximum lif...

How much time does a person who was a party to a hearing have to appeal the order by the Superintendent? - correct answer 30 days As a prerequisite to maintaining a license, licensees must complete a continuing education requirement every: - correct answer 2 years If Jerry's insurance producer's license expires, how much time does he have to be reinstated without retaking the Maine insurance lic...

Maine Life Insurance Exam Study Guide with complete solution

Maine Life Insurance LAW solicitation and cost disclosure -buyers guide -policy summary -policy illustrations buyers guide contains information that helps applicant decide how much life insurance to buy determine what type of policy is needed and compares the costs of similar policies policy summary written statement describing the elements of a life insurance policy has name, address of producer & insured has name of policy and each rider tells annual premium, cash surrender v...

Maine Life Insurance LAW solicitation and cost disclosure -buyers guide -policy summary -policy illustrations buyers guide contains information that helps applicant decide how much life insurance to buy determine what type of policy is needed and compares the costs of similar policies policy summary written statement describing the elements of a life insurance policy has name, address of producer & insured has name of policy and each rider tells annual premium, cash surrender v...