Montana life insurance - Study guides, Class notes & Summaries

Under the freedom of choice act an insured is able to choose their own doctor in which health plan?Answer - Stock or mutual indemnity plan not-for-profit insurer which offers insurance only to its members is called a ?Answer - Fraternal benefit society A commissioner must give at least a ? Day notice prior to holding a hearing on a license revocation or suspensionAnswer - 10 What is the continuing education requirement for an individual holding a limited lines credit license?Answer ...

Insurance policies ensures that after a loss proceeds will go to the correct answer: Beneficiary What do individuals use to transfer their risk of loss to a larger group? correct answer: insurance An individual applies for a life policy. Two years ago he suffered from a head injury from an accident, so he cannot remember parts of his past, but is otherwise competent. He has also been hospitalized for drug abuse, but does not remember this when applying for insurance. The insurance issues...

Professional Home Inspector Exam NHIE / TREC Questions and Answers Already Passed Document Content and Description Below Professional Home Inspector Exam NHIE / TREC Questions and Answers Already Passed The inspector is not required to determine ____ ___ of any system or component. -Years of age -Life expecta ncy -Make model Horizontal waste pipe should slope ____ inch per foot 1/4" per foot if < 3 inch pipe. 1/8" per foot if > or = to 3 inch pipe Drip screed Also called weep screed. U...

Montana life and health final exam questions and answers Which of the following is true about most blue cross blue shield organizations? - Answer- They are non profit organizations Which of the following is not included in hospitalization expense coverage - Answer- Surgical fees A policy of adhesion may only be modified by who? - Answer- The insurance company Which of the following is not included in an annuity contract? - Answer- AD&D rider An insurer must provide an insured with claim ...

A contract which one party undertakes to indemnify another against loss is called - Insurance. A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor Benefit rider. If the father becomes disabled, what will happen to the life insurance premiums? - The insured's premiums will be waived until she is 21. A married couple owns a permanent policy which covers both of their lives and pays the death benefit only upon the death of the first insure...

Who would be most likely to apply to the commissioner for a nonresident license? - answer-Individual licensed in another state and who resides in that state What does a viatical settlement involve? - answer-The sale of a life insurance policy In Montana, the _________ reviews and approves the insurance continuing education courses. - answer-Comissioner A _________ insurer is one domiciled in another state. - answer-Foreign In Montana, health insurance companies must provide maternity...

An insurance company is domicilied in Montana and transacts insurance in Wyoming. Which term best describes the insurer's classification in Wyoming? -:- Foreign -a foreign insurer is domiciled in one state and transacts in another state What is domestic insurer? -:- Domiciled and sells in domiciled stated What is an alien insurer? -:- Domiciled in one country and sells in another country All other factors being equal, the least expensive first-year premium payment is found in -:- A...

Montana State Laws - Life and Health Laws The Commissioner enforces and executes the duties imposed by the ️Insurance Code. All certificates and licenses issued by the Commissioner must bear the Commissioner's seal. The Commissioner and any person they appoint/employ may not be financially interested, directly or indirectly, in any insurer, insurance agency, or insurance transaction except ️as a policyholder or claimant under a policy. If the unfair or deceptive practice has no...

Montana Life Review 2 Verified Answers Which of the following riders would NOT cause the Death Benefit to increase? Payor Benefit Rider An insured and his wife are both involved in a head-on collision. The husband dies instantly, and the wife dies 15 days later. The company pays the death benefit to the estate of the insured. This indicates that the life insurance policy had what provision? Common Disaster A producer is helping a married couple determine the financial needs of their ch...

Which of the following is TRUE about credit life insurance? -:- Creditor is the policyowner The individual conversion policy CANNOT exceed -:- The amount of insurance being terminated. A banker is ready to close on a customer's loan. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. This is an example of -:- Coercion. What is the maximum amount of time that a person can have a temporary produce...