Reinstatement provision - Study guides, Class notes & Summaries

Accidental death and dismemberment insurance beneficiary requires consent when a change of beneficiary is made? irrevocable beneficiary The waiver of premium provision in a health insurance contract suspends the insurer's right to receive premiums during a covered period of disability An insured should submit the claim in any form if the insurer does not send the claims forms within the time period set forth in a health policy's claims forms provision Reinstatement coverage ma...

Kentucky Life and Health Insurance Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100 % Correct| Grade A Q: Which type of life policy contains a monthly mortality charge as well as self-directed investment choices? Joint Life Adjustable Life Variable Universal Life Universal Life Answer: Variable Universal Life Q: Two agencies are competing for a new client. Agency A mentions to the prospective client that all of the companies with which it does busin...

What is the benefit of choosing extended term as a nonforfeiture option? - Answer- It has the highest amount of insurance protection Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. What does this mean? - Answer- The beneficiary will only receive payments of the interest earned on the death benefit If a life insurance policy has an irrevocable beneficiary designation, - Answer- the beneficiary can only be changed w...

PSI INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS What is it called when a life insurance policy pays a multiple of the coverage amount when certain types of accidents occur? - Precise Answer multiple indemnity Upon the issuance of a conditional receipt for a renewal when the premium is paid AFTER the time granted by the insurer, what is the maximum amount of time for reinstatement of the policy? - Precise Answer 30 days Which of the following statements regarding a pure life annu...

OHIO LIFE ONLY EXAM 2024 WITH 100% CORRECT ANSWERS Which annuity payout option allows the policyowner to choose a pre-determined number of benefit payments? - correct answer Period certain What happens when an insurance policy is backdated? - correct answer The policy's probation period is earlier than the present What is an insurer required to do when faced with an error made under the Misstatement of Age provision? - correct answer Pay age-corrected benefits An insurer will acc...

DE MPJE QUESTIONS AND ANSWERS 2023 how many intern hrs needed for pharmacist licesnure? 1500 - 1000 from hospital and retail - 500 from other areas what is the max amount of opioids a practitioner can prescribe outpatient to an adult patient for the first time or to a minor? 7 days supply Controlled substance authority for NPs can prescribe, administer, dispense, and procure C2-C5 definition of dispensing the interpretation, evaluation and implementation of a prescrib...

What must the policy summary in a life insurance policy include?1. conditional receipt and the insurer's home office address2. reserve deposits.3. the name and address of the insurance agent or broker4. definition of replacement. the name and address of the insurance agent or broker Which of the following statements is CORRECT about Medicare Supplement Insurance?1. An agent must provide an outline of coverage to an insured at the time of policy delivery.2. If an applicant has an existing ...

What is the maximum age for a dependent child? A. 16 B. 19 C. 21 D. 26 - Answer 26 What do employers generally require their employees to work to be covered under a group plan? A. 50 hours per week B. 30 hours per week C. 20 hour per week D. 25 hours per week - Answer 30 hours per week What is covered immediately after reinstatement of a policy? A. Accidental injuries B. Sickness C. Diseases D. Illnesses - Answer Accidental injuries A delay in a premium is most like...

Life and Health Insurance Exam (Missouri) Questions and Answers 100% Solved Insurance policies are considered aleatory contracts because: 1)they are take it or leave it contracts 2)both parties consent to the contract 3)performance is conditioned upon a future occurence 4)the contract is voidable upon proof of fraud ️️Performance is conditioned upon a future occurence, because there is an element of chance and potential for unequal exchange of value K failed to pay a renewal prem...

Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...