Nonforfeiture options - Study guides, Class notes & Summaries

Which medical plan covers doctor visits while the insured is in the hospital and physical therapy treatments following release from the hospital? limited medical policy basic hospital expense policy comprehensive major medical insurance supplementary major medical insurance - Answer- comprehensive major medical insurance A comprehensive major medical plan covers hospital expenses and doctor and surgeon fees. A basic hospital expense policy covers the cost of hospitalization, but not phy...

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...

Texas Life And Health Insurance Exam Questions With Correct Answers | Latest 2023/2024 (Graded A+). Which of the following actions is NOT possible with a Universal Life policy? - Correct Answer-Premiums may be applied as a credit against income tax Which of the following will a Long Term Care plan typically provide benefits for? - Correct Answer-home health care Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that...

Kentucky Life Insurance Exam Prep| Questions and Verified Answers| 100 % Correct| Grade A (New 2024/ 2025 Update) QUESTION Nonforfeiture Options Three options available by law to policyowners that enable them to recover a policy's cash-value upon surrender of that policy. (1) Cash (2) Reduced Paid-Up Insurance (3) Extended Term Insurance QUESTION Immediate Annuities Answer: - Can only be funded using the Single Premium payment method - First income payment is ma...

Xcel Life Policies Exam Which type of multiple protection policy pays on the death of the last person? A. Joint Life Policy B. Dual Life Policy C. Multiple Life Policy D. Survivorship Life Policy - D. Survivorship Life Policy A policy owner may change two policy features on what type of life insurance? A. Adjustable Life B. Modified Whole Life C. Decreasing Term Life D. Whole Life - A. Adjustable Life Adjustable Life allows the policyowner to change two policy features: prem...

Which medical plan covers doctor visits while the insured is in the hospital and physical therapy treatments following release from the hospital? limited medical policy basic hospital expense policy comprehensive major medical insurance supplementary major medical insurance - ️️comprehensive major medical insurance A comprehensive major medical plan covers hospital expenses and doctor and surgeon fees. A basic hospital expense policy covers the cost of hospitalization, but not physi...

An insurer will accept a premium from the insured and continue theicoverage in full force as though it was NOT late during which time period? Incontestable period Probation period Reinstatement period Grace period - Grace period A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Standard Substandard Acceptable Preferred - Preferred Which of these is affected by the frequency of an insurance policy's pr...

Xcel Solutions Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: Which of these techniques will remove the risk of losing money in the stock market by never purchasing stocks? Answer: Risk avoidance Risk avoidance could eliminate the risk of losing money in the stock market by never investing in stocks. Q: Which of the following nursing home options would BEST suit an individual who needs some nursing care and supe...

Which medical plan covers doctor visits while the insured is in the hospital and physical therapy treatments following release from the hospital? limited medical policy basic hospital expense policy comprehensive major medical insurance supplementary major medical insurance Correct Answer comprehensive major medical insurance A comprehensive major medical plan covers hospital expenses and doctor and surgeon fees. A basic hospital expense policy covers the cost of hospitalization, but no...

PSI 200 Life Health Accident Exam Questions and Answers Nonforfeiture Options - CORRECT ANSWER-cash value, reduced paid-up insurance, extended term insurance Cash Value - CORRECT ANSWER-the amount of money a whole life policyholder would receive if the policy were surrendered before death or maturity Reduced Paid-Up - CORRECT ANSWER-The amount of equity (ownership) or cash accumulation in a permanent life insurance policy. Extended Term - CORRECT ANSWER-A nonforfeiture option that all...