Premium audit - Study guides, Class notes & Summaries

A life or health insurance company formed to provide insurance for members of an affiliated lodge, religious, or fraternal organization with a representative form of government - Fraternal Benefit Society A definition on liability forms that describes the types of contracts in which liability is assumed by the insured and included for coverage in the policy. Examples are leases of premises, elevator maintenance agreements, easement agreements, and other agreements related to the insured's ...

Final Exam 1. Your company has an on-premises Microsoft Exchange Server 2016 organization. The organization is in the company's main office in Melbourne. The main office has a low-bandwidth connection to the Internet. The organization contains 250 mailboxes. You purchase a Microsoft 365 subscription and plan to migrate to Exchange Online next month. In 12 months, you plan to increase the bandwidth available for the Internet connection. You need to recommend the best migration strategy...

PA life, accident, and health practice questions with complete solutions Premium payments for a universal life policy are NOT used for: Separate account investments Under PA statute, first year commission for long-term care insurance may not be greater than 50% of the first year premium 10-year level term life InsPol that has a death benefit of $2000,000. It is true that: The face amount and premium will remain constant over the 10 year period Insurance premium is determined by e...

UNDERWRITING - ANSWER classifies the applicant based upon the underwriting requirements INSURABLE INTEREST - ANSWER an economic interest in a property that must exist at the time of loss (you can insure the equity interest in your own home) of the insurer; matches the risk presented with the premium charged by the insurer LOSS RATIO - ANSWER percentage of claims paid in comparison to total premiums collected during a particular period of time RATES - ANSWER set by the insurer at a level...

AIC 300 - Claims in an Evolving World Practice Questions and Answers 100% Pass Insurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail. - Correct Answer ️️ -B. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. As methods of communication evolve, it...

Coverage for water backup or sump pump overflow is excluded from the Dwelling Policy. However, with the purchase of the water backup and sump pump overflow endorsement, coverage for up to $5,000 in loss or damage can be provided for an additional premium. What is the deductible associated with this coverage? $250 Coverage for up to $5,000 in loss or damage, subject to a $250 deductible, can be provided for an additional premium with this endorsement. An insured relocated to another st...

AIC 300 - Claims in an Evolving World Exam Questions And Answers (Verified And Updated) Insurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail. - answerB. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. As methods of communication evolve, it's impo...

AINS 23 Full Practice Exam Questions with Correct Answers (Already Graded A+) Which one of the following is a characteristic of a site-specific environmental impairment liability policy? - Answer It provides coverage on a claims-made basis. Exclusions are generally very common in all insurance policies. Which one of the following is a correct statement regarding the exclusions in Part One of the standard Workers Compensation and Employers Liability (WC&EL) Insurance Policy? - Answer Part...

CCA AHIMA Exam 3 || With Questions & Solutions (100% Correct) CCA AHIMA Exam 3 || With Questions & Solutions (100% Correct) -What is the amount the insured pays before the insurer assumes liability for any remaining costs of covered services? a. Out-of-pocket expense b. Coinsurance c. Deductible d. Premium - ANSWER - Correct Answer: C A deductible is the amount the insured pays before the insurer assumes liability for any remaining costs of covered services The Medicare Modernizatio...

Under a modified endowment contract, what are the likely tax consequences? Pre-death distributions will become taxable An interest sensitive life insurance policy owner may be able to withdraw the policy's cash value interest. The free provision that allows this is called Partial Surrender In contrast to a guaranteed renewable policy, a noncancelable policy may never raise premiums Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. 20 ...