Michigan credit - 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 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...

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 ️ ...

XCEL SOLUTIONS FINAL EXAM - MICHIGAN LIFE AND HEALTH | 2024 QUESTIONS AND ANSWERS 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 - A.) Will no longer provide insurance protection Susan is insured throug...

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

Michigan P & C Insurance Exam Test. Questions and answers. 100% Verified. Rated A Termination of Insurance for auto and home must be sent to last know address no later than - 30 days before cancellation Termination of casualty insurance cannot take place until- from the mailing date - 10 days PIP in auto insurance covers individual care from a family member for - a limit of $20 a day for three years limited collision - shall pay for collision damage to the insured vehicle without a...

Under Michigan law, which of the following would not be considered an illegal inducement A promotional item with the producers name and address valued at five dollars And insured dies from what appears to be accidental causes. When confirming the cause of death, which of these actions by the insured takes precedence? Autopsy The acceptance of a credit life application requires the submission of a certificate of insurance to the insured within blank days 30 Which of the following is not cov...

Michigan Life and Health Part 2 Final Exam Questions And Answers (Verified And Updated) The acceptance of a credit life application requires the submission of a certificate of insurance to the insured within ___ days. 10 20 30 40 - answer30 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 - answer$10,000 Which of the...

Chapter Michigan laws Questions and Answers 100% Solved Under Michigan law, which of the following would not be considered an illegal inducement A promotional item with the producers name and address valued at five dollars And insured dies from what appears to be accidental causes. When confirming the cause of death, which of these actions by the insured takes precedence? Autopsy The acceptance of a credit life application requires the submission of a certificate of insurance to t...