Renewability - Study guides, Class notes & Summaries

Study Guide for Wisconsin Health and Accident Insurance Course Exam 2024 Questions and Answers Medical Expense Insurance - CORRECT ANSWER-includes plans that cover hospital care, surgical expenses, doctor visits, and outpatient care, along with most of your other basic medical expenses Disability Income Insurance - CORRECT ANSWER-provides replacement income when wages are lost due to a disability -does not cover medical expenses associated with a disability Accidental Death and Dis...

Comprehensive Final Certification Exam: Illinois Health Insurance (Xcel Solutions) Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? - Answer ️️ -home health care Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. Her health policy most likely contains a(n) - Answer ️️ -deductible When a producer submits an insurance applicaton, the application is REQ...

A beneficiary has just received a claim payment for a life insurance policy. Which of the following is TRUE regarding the federal income tax liability owed? A flat tax of 10% is owed on all proceeds Federal income tax is owed if proceeds exceed $250,000 No federal income tax is owed on life insurance proceeds Tax liability owed depends on the type of life insurance policy - No federal income tax is owed on life insurance proceeds A business will typically use which type of life insurance ...

NY Independent General Adjuster Exam - Series 17-70 (+180 Questions and Answers |Guarantee Pass Dram Shop Liability refers to: {{Correct Ans- Liquor Law Liability. The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the property from further loss. The additional loss that occurs as a result of his inactions may be denied because of what clause in the policy? {{Correct Ans- Neglect. To be eligible for the New York assigned risk auto plan a person mus...

____________ is NOT an element of a valid contract. - Answer-Taxable income. Disability insurance benefits from a group policy paid for by an employer is considered taxable income. "maximum benefits" refers to the - Answer-upper limit of the total lifetime benefits the insurance company will pay A business will typically use which type of life insurance to cover their employees? - Answer-Group policy A clause that allows an insurer the right to terminate coverage at any anniversary...

NC Life Insurance State Exam Study Guideline with Complete Solutions Term Insurance - Correct Answer Used for Temporary Situations. Net cost highest in the long run. Premiums goes up every year based on current (attained)age. Term Insurance - Correct Answer Expire's at a certain age/Time in the future. May be renewable up to a certain age or date with out a phyical Exam. Level Term Insurance - Correct Answer Term insurance can be Renewed annually. Has a level Face Amount at renewal, Pre...

Kentucky Health Insurance Exam (New 2024/ 2025 Update) Questions and Verified Answers| 100 % Correct| Grade A QUESTION The Medical Information Bureau (MIB) was created to protect 1. Insureds from unreasonable underwriting requirements by the insurance companies. 2. Medical examiners that perform insurance physical examinations. 3. Insurance companies from adverse selection by high risk persons. 4. Insurance departments from lawsuits by policyowners. Answer: Insurance compa- n...

Nevada Life and Health Insurance Final Exam Questions and Answers Rated A+ What is an individual engaged in the solicitation, negotiation, or sell of funeral expense insurance who is required to be licensed by the state? Prepaid funeral contract agent Which of the following does the Nevada Insurance Commissioner NOT do? Make statutes concerning insurance law Nick has a policy that the insurer can cancel when he turns 65. Which type of policy is it? Conditionally renewable Which o...

Dram Shop Liability refers to: Answer - Liquor Law Liability. The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the property from further loss. The additional loss that occurs as a result of his inactions may be denied because of what clause in the policy? Answer - Neglect. To be eligible for the New York assigned risk auto plan a person must: Answer - Hold a valid driver's license. Any insurance adjuster whose license has been revoked for cau...

Accidental Death and Dismemberment Insurance Ans: provides a beneficiary with a lump sum death benefit in the event of accidental death and will pay a living benefit to for a dismemberment Renewability Provisions Ans: define the rights of the insurer to cancel the policy at different points during the life of the policy. The more advantages the renewability provisions the more expensive the coverage There are five principal renewability classifications -cancellable -optionally renewabl...