Accelerated benefit rider - Study guides, Class notes & Summaries

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - ANSWER-2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums paid up to the current point B. a provision that allows the insured to cancel the policy in the first two years and have premiums refunded C. an increasing amount of term insurance that e...

What kind of retirement plan can a 75-employee for profit corporation establish? - ANSWER-Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - ANSWER-Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT - ANSWER-failure to pay all claims that are reported within 90 days after a loss occurs The settlement option that allows p...

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

PSI life, accident, and health Exam (Questions and Answers A+ graded 100% verified)How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - ANSWER-2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums paid up to the current point B. a provision that allows the insured to cancel the policy in the first two ye...

PRIMERICA LIFE INSURANCE EXAM. All Most Examined Questions Bank with answers. 100% verified. Rated A. An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock - A. mutual funds not paid out after paying claims ...

NY Life Insurance Exam Review, Questions and answers, 2022/2023. Rated A Based on the Human Life Value Approach, which of the following is NOT used to calculate an individual's life value? A. Insured's annual expenses B. Effect of inflation on income over time C. Predicted needs of the family after the insured's death D. Insured's current and future income - C. Predicted needs of the family after the insured's death. The Human Life Value Approach to determining the value of an individual's...

Virginia Health Insurance Test Latest Update Graded A+ Absolute An assignment that occurs when the policy owner assigns all rights including cash values to another person or entity. Synonymous with voluntary assignment. Absolute Value A medical expense plan that pays a fixed maximum dollar amount for a procedure. Accelerated Benefit Rider Life insurance rider which allows the insured to receive a portion of the death benefit prior to death if the insured has a terminal illness. ...

Which policy provision permits the policy owner to take a specified number of days to examine the contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs? Correct Answer: Free Look When will a policy pay on a UCR basis? Correct Answer: When particular benefits are not listed on a payment schedule Which type of rider reimburses health and social service expenses incurred in a convalescent or nursing home facility? Correct Answer: long term c...

AZ Insurance Exam 13-33 (2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: Which of the following is NOT a valid contract age? Answer: An annuity exchanged for a life insurance policy. Q: Tim is covered by an accident and health insurance policy that may not be changed in any way by the insurer up to a stetted age, as long as the premiums are paid. What type of policy is this? Answer: Noncancelable Q: An insurer will typically assess a bac...

Pennsylvania Life Insurance – Provisions Questions and Answers Already Passed Which of these is NOT a typical life insurance nonforfeiture option? Reduced paid-up option Extended term option Cash surrender option Life income settlement option Life Income Settlement Option A life insurance policy's waiver of premium rider has the ability to waive the premium payments in the event the insured becomes financially insolvent waive the premium payments in the event the insured becom...