Michigan life and health - Study guides, Class notes & Summaries

Shawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering all three of their lives. If Mike dies first, the policy proceeds A.) Will no longer provide insurance protection B.) Will go to Mike's estate C.) Wwill be divided by probate D.) Will not be paid until the last brother dies - Answer-A.) Will no longer provide insurance protection Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with...

Final Exam-Michigan Life and Health Exam Questions And Answers What amount will be paid under a policy where the insured misstated his/her age? - ANS an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days - ANS 30 days which of these is considered to be a Living benefit option in a life insurance policy - ANS Accelerated death benefit loans ob...

Final exam Michigan life and health Questions and Answers/Final exam Michigan life and health Questions and Answers/Final exam Michigan life and health Questions and Answers

What amount will be paid under a policy where the insured misstated his/her age? - an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days - 30 days which of these is considered to be a Living benefit option in a life insurance policy - Accelerated death benefit loans obtained by a policy owner against the cash value of a life insurance policy - would n...

MICHIGAN LIFE AND HEALTH FINAL EXAM 200+ QUESTIONS AND ANSWERS 2024 A+ RATED. MICHIGAN LIFE AND HEALTH FINAL EXAM 200+ QUESTIONS AND ANSWERS 2024 A+ RATED. MICHIGAN LIFE AND HEALTH FINAL EXAM 200+ QUESTIONS AND ANSWERS 2024 A+ RATED.

Final Exam - Michigan Life and Health Part 2 Questions and Answers Already Passed The acceptance of a credit life application requires the submission of a certificate of insurance to the insured within ___ days. 10 20 30 40 30 Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? $0 $5,000 $10,000 $15,000 $10,000 Which of these...

Final Exam - Michigan Life and Health Latest Update with Verified Solutions Making a statement that is false or maliciously critical of the financial condition of an insurer is known as defamation Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? Business overhead expense policy Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the ter...

Fixed period settlement options are considered to be a form of a(n) - Answer-annuity Ownership of a life insurance policy may be temporarily transferred with a(n) - Answer-collateral assignment Gina the producer caused financial harm to an insured. Which of these actions may the Commissioner take? - Answer-Revoke Gina's license after a hearing concludes a violation has occured Converting a group plan to permanent life insurance requires - Answer-The conversion being applied for within ...

What amount will be paid under a policy where the insured misstated his/her age? an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days 30 days which of these is considered to be a Living benefit option in a life insurance policy Accelerated death benefit loans obtained by a policy owner against the cash value of a life insurance policy would not be trea...

Michigan Life and Health Final Exam 242 Questions with Verified Answers