Conditional receipt - Study guides, Class notes & Summaries

Insuring Which health policy clause specifies the amount of benefits to be paid - Answer-Insuring The investment gains from a universal life policy usually go to - Answer-The cash value L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the applicant misstated their age. What will the insurer do? - Answer-Adjust the death benefit to a reduced amount An employee is covered under a company group life plan with a $50,000 death ...

Primerica Practice Exam Test A 75 Questions & Answers 2023 1. An annuity that is purchased with a lump sum premium and whose benefits begin after 12 months is called a: A. Single premium immediate annuity. B. Single premium deferred annuity. C. Level premium variable annuity. D. Flexible premium fixed annuity. - Correct answer-Single premium deferred annuity 2. A technique used to determine the amount of life insurance needed by focusing on the projected earning potential of an insured ...

Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a result of failing to provide a service to a client? - Errors and Omissions Insurance Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - Waiver This Supreme Court case placed the regulation of insurance within the authority of the federal government by defining insurance as a form of interstate commerce? - United States v. Southeast...

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...

primerica exam review Questions and Answers 2023 If an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be Authorized A participating insurance policy may do which of the following? Pay dividends to the policy owner An insured owns a life insurance policy. To be able to pay some of her medical bills, she withdraws a portion of the policy's cash value. There is a limit for a withdrawal and the insurer charge...

Accident, Life, and Health Insurance Exam Questions and Answers 100% Solved Premiums paid by self-employed sole proprietors or partners for medical expense insurance are ️️a) Not tax deductible b) Partially tax deductible c) Totally tax deductible d) Taxable c) Totally tax deductible ️️c) What is the purpose of a conditional receipt ️️a) It is given by the agent only to applicants who fully prepay all scheduled premiums in advance of policy issue b) It is intended to pro...

Pearson Vue Life + Health Insurance Practice Exam Questions with Complete Solutions Pearson Vue Life + Health Insurance Practice Exam Questions with Complete Solutions Pearson Vue Life + Health Insurance Practice Exam Questions with Complete Solutions P wants to name her husband as the beneficiary of her life policy. However, she wishes to retain all of the rights of ownership. P should have her husband named as the: a: irrevocable beneficiary b: revocable beneficiary c: secondary bene...

Pennsylvania Health and Accident Questions and Answers 100% Solved How do warranties differ from representations? A. a warranty is guaranteed to be true, a representation is believed to be true to the best of one's knowledge. B. a representation is guaranteed to be true, a warranty is believed to be true to the best of one's knowledge. C. a warranty is issued by the insurer, a representation is a statement provided by the applicant. D. an incorrect representation automatically voi...

Insuring Clause In a Life insurance contract, an insurance company's promise to pay stated benefits is called the C All of these are powers of the Commissioner except A. Hold hearings B. Enforce insurance laws C. Incarcerate a producer D. Issue subpoenas $25,000 individual whole life policy An employee with $25,000 group term life coverage was recently fired. This employee's group coverage may be converted to a B The amount of monthly disablility benefits payable u...

Virginia Life and Health Practice Final Exam with Complete Solutions Under which circumstance may an insurer discontinue a small employer group medical plan? Employer fails to pay the premium prior to the end of the grace period An insured is covered with a health insurance policy. If the insured would like to cancel the policy, he/she must notify the insurance company in writing Who is protected with the "other insurance with this insurer" provision? Insurance company When a pr...