An indemnity plan - Study guides, Class notes & Summaries

OHIO LIFE EXAM WITH 100% CORRECT ANSWERS Which of the following would be sufficient violation to warrant rejection, revocation, or suspension of an insurance agent's license? 1) a moving violation ticket 2) a denied license in another state 3) acting as a fiduciary 4) an unintentional misrepresentation of the terms of a contract - correct answer 2) a denied license in another state What method do insurers use to protect themselves against catastrophic losses? 1) pro rata liability...

MI Insurance Exam Questions and Answers Rated A an insurance applicant with a below average likelihood of loss is typically considered to be Preferred Risk Tim is covered under a group plan and would like to change is group coverage to an individual policy with the name insurer because of employment termination. Which of these describes the change that will take place? Conversion Matt is applying for life insurance and requests a double indemnity rider. A double indemnity benefit...

Which of the following must be present in all medicare supplement plans? - ANSWER ☑☑Plan A What was created to keep telemarketers from calling consumers who do not wish to be contacted? - ANSWER ☑☑National Do not call registry Which insurance principle states that if a policy allows for greater compensation than the financial loss incurred, the insured may only receive benefits for the amount lost? - ANSWER ☑☑Indemnity Which of the following would not be considered an exp...

A business offers a group disability income plan and pays the premiums. If an employee suffers a disabling injury, the benefits paid to the employee will be: - Answer-axable income to the business deductible income to the employee a deductible business expense for the business taxable income to the employee A business overhead expense policy does NOT provide: - Answer-tax-free benefits a Medicare SELECT plan is - Answer-a managed care policy. A Medicare SELECT plan is a - Answer-managed c...

OHIO LIFE AND HEALTH PRACTICE EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+/ An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? $500 $5,000 $5,400 $5,600 - -$5,000 Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) Loan against the cash value Policy withdrawal Policy Dividend Death Benefit - -Death benefit An indemnity p...

California Life, Accident, and Health Licensing Exam Questions and Answers 100% Pass Co-insurance - Correct Answer ️️ -The policy provision which requires the insurer and the insured to share in the cost of services rendered Exclusion ratio - Correct Answer ️️ -The formula which is used by the IRS to determine how much is taxable to an annuitant during the pay out period. Occupational policy - Correct Answer ️️ -When a disability income policy provides coverage for injuries wh...

ARIZONA LIFE AND HEALTH INSURANCE STATE EXAM 2024 Which statement regarding the cash value of a whole life insurance policy is correct? - correct answer Available to the policyowner when the policy has been surrendered. Which of the following is NOT a valid contract exchange? - correct answer An annuity exchanged fora . life insurance policy. Interest is credited to a fixed annuity no lower than the - correct answer contract guaranteed rate Under the uniform mandatory provisions,...

Michigan Life And Health Final Exam Questions & Answers, 100% Rated-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 poli...

Accident Indemnity Advantage(Policy Series A35000) - Key Features -Two coverage options available: 24-hour coverage or off-the-job only -Three plan levels -Benefits for many major/minor procedures and common injuries -Coverage for certain hazardous activities -Additional Accidental-Death Benefit Rider available -Optional disability benefit riders available Aflac Accident Advantage(Policy Series A36000) - Key Features -More flexibility with four options of coverage for injuries such as f...

Medical billing and coding latest version graded A+ Medical Insurance Financial plan (the payer) that covers the cost of hospital and medical care Policyholder Person who buys an insurance plan; the insured, subscriber, or guarantor Health Plan Individual or group plan that provides or pays for the cost of medical care Benefits What a health plan pays for services covered in an insurance policy; listed in the schedule of benefits. Medical Necessity Reasonable services of prov...