Which of the following statements is TRUE? Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? & \text{Ending}& \text{Beginning} & \\ What types of life insurance are normally usedfor key employee indemnification? How often must an insurance producer's license in Maryland be renewed? What is the contract called that is issued to an employer for a Group Medical Insurance plan? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. D.) Intentionally violated state insurance laws. Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. Which of the Uniform Optional Provisions covers this situation? How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? A debtor may receive Credit Life insurance in which of the following forms? a producers secretary who solicits prospects on the telephone. a. Mustmeet certain underwriting guidelines. We'll bring you back here when you are done. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. All of these are responsibilities of the Commissioner EXCEPT, policy must be issued to XYZ, and a certificate must be issued to each employee, XYZ Corp was issued a group health policy for its employees. Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? Whichscenario would most life insurance policies exclude coverage for? Because dividends are considered to be a return of premium. A. Collectinga premium for insurance that is not provided. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Which of the following statements is TRUE? The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. How to take legal action against an insurance company. Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. belmont funeral home obituaries barbados When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? Mikehas inherited his fathers traditional IRA. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. Course Hero is not sponsored or endorsed by any college or university. Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. This illustration MUST disclose that. A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? Policyowners from misrepresentations and loss of benefits, Replacement regulation is designed to protect, A producer must notify the Commissioner within _____ days of a felony conviction, Dependent children under a health insurance plan must be provided coverage up to age, written authorization from the proposed insured, Prior to conducting an HIV-related test, the insurer must obtain, An insurance producer agrees to pay the first monthly premium for an insurance applicant. Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. Which of the following would be considered a "dependent child"? Which market index is associated with an indexed annuity's rate of return? Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. According to HIPPA, this tax will not be applied if the withdrawal is used for medical expenses that exceed _____ of the individual's adjusted gross income. What does the Group Life underwriting risk selection process help protect insurance companies from? Pre-existing conditions may only be excludes from coverage for a maximum of 6 months, The reinstatement provision in a health insurance policy is, The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called, Naming a contingent beneficiary as "all surviving children" is describing by which term, The entire contract includes the actual policy and the. Assist in the underwriting of insurance policies. Which of the followingunfair trade practices involves an agent who makes malicious statements aboutanother person's financial condition? Therole of the federal government was expanded when Medicaid was establish byallowing the state to, A. Froma large PPO on a statewide level, B. Purchasehealth insurance from the federal government, C. Receivematching funds to expand public assistance programs, D. Deferall costs to the federal government for public assistance program, Anaccident and Health policy that Provides reimbursement benefits makes them payable to the, Paulis an employee who caught a disease unique to the trade in which he was exposedto. Registered for the state insurance examination. The concept is simple - the insured buys the policy and names Life insurance pays after a persons death to help family members pay for debt, lost income, or funeral costs (Life Insurance 686). The policy automatically converts to whole lifeafter the 10-year period, B. D. The face amount and premium will remain constantover the 10-year period. In the event of employment termination, group health insurance can be kept if the employee pays the premiums, B. Recieve a tax credit to help offset the cost of health insurance, C. Remain of their current coverage for 30 months. June 5, 2022 . Which of the following is Medicare Part B also known as? If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? Life insurance policies will. A producer's secretary who solicits prospects on the telephone Must be licensed as a producer Which of the following is a requirement for ANY change in an insurance application? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Mark continues working after the age of 65 and is covered through his employer's group health plan. In which of the following relationship would there NOT be an insurable interest? How long after its effective date will an individual life insurance policy become incontestable? Which of the following does Medicare Part D cover? Introducing Cram Folders! When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. An applicant's character and personal habits can be obtained for underwriting purposes from which source? Which of the following is NOT a circumstance to which a temporary producer license can be issued? Whoassumes the investment risk with a fixed annuity contract? What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? Hill during her initial calls made to the call center. Failing to renew license on timely basics, C.) Sharing Commissioners with another licensed Producer, D.) Signing a prospect's name without thier knowledge or presence, The Fair Credit Reporting Act Protects consumers, B.) _____ is NOT an element of valid contract, The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value at the amount of, Past due premiums that have not been paid by the end of the grace period. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. A Medicare supplement policy can be cancelled by the insurer for: Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Former dependent of employee no longer ofdependent status. who would be responsible for the prosecution of this crime? Atax-free 1035 Exchange of a life insurance policy to a different policy ispermitted if it occurs, A. Inthe same state as the original transaction, C. Frominsurer to insurer and no cash is received by the policy owner, D. Fromagent to agent as long as the agents are licensed in the same line. B.Canceling a term life policy to buy a whole life policy. Vaginal plastic surgery is made up of two main procedures, external and . A. Timeperiod an insured must wait before coverage begins, B. Timeperiod a disabled person must wait before benefits are paid, C. Timeperiod after the policy issue date in which the provisions are stillcontestable, Inan insurance contract, the element that shows each party is giving something ofvalue is called. How much does Medicare Part B pay for physician fees? Jay the producer is giving insurance advice regarding a prospect's existing coverage. How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. The two plans are fee-for-service and. Mary ran into John, another employee, who happened to be taking outthe garbage. Upon delivery, she may be expected to collect all of the following EXCEPT a(n), Modified application with a new signature, All of these are valid policy dividend options for a life insurance policyowner EXCEPT. Which of the following is typically NOT eligible for coverage in a group health policy? 1. b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. B. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? licensed producers not appointed by an insurer. Ifan insurer refuses to pay a claim, how many days must the insured wait to takelegal action against a health insurer after submitting written proof of loss? A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? Erica is 35 years old and owns an IRA. The death benefit paid will be what the premium would have purchased at the correct age. An individual the means to replace wages. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? AnIndividual can enroll in a part C Medicare Advantage Plan at what time? ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. a producers secretary who solicits prospects on the telephone. How long is the Contestable period for health insurance policies sold in Maryland? The legal action provision in a health contract is limited to no more than ___ years. Write a sentence explaining its significance to the executive branch. A. B.) Please select the correct language below. C.) Unintentionally misrepresented a material fact on the application. Their offer/administration. & \text{Balance}& \text{Balance} & \\ A. D.) By providing consumer credit counseling. Which of the following unfair trade practices involves a producer who makes public malicious statements about an insurer's financial condition? A producer may begin to solicit insurance ONLY. Which of the following statements is TRUE about Medicaid? Inwhich of the following situations would the insurer be liable for a loss? 59 and owned account for a minimum of 5 years, C. 70 and owned account for a minimum of 10 years, D. 70 and owned account for a minimum of 5 years, A. Cancelingdisability policy to buy a term life policy, B. Cancelinga term life policy to buy a whole life policy, C. Cancelinga long-term care policy to buy a whole life policy, D. Cancelinga whole life policy to buy a major medical policy. Whichtype of life insurance is normally associated with a payor benefit rider? In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. Which of the following would be the appropriate tax consequence? A non-contributory health insurance plan helps the insurer avoid, An employee under a group insurance policy has the right to name a beneficiary and the right to, A) remain on the group in the event of employment termination, D) Convert to an individual policy in the event of employment termination, D) Convert to an individual policy in the event of employment termination, All of the following are Characteristics of a group life insurance plan EXCEPT, Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. Which situation accurately describes a reduced paid-up nonforfeiture option? B. Gainsare tax exempt at distribution. Which of the following is an example of fraud? The promise of a discount in premium as an inducement to purchase insurance is known as, exchanging a new policy for one already in force, with guidelines regarding credit reporting and distribution, The Fair Credit Reporting Act protects consumers, Terminally-ill life insurance policyowners may sell their policy at a discount to a third party. An individual who has a hobby racing cars once a month. Bob and Tom start a business. Unintentionally misrepresented a material fact on the application. What is the purpose of having an accelerated death benefit on a life insurance policy? a producers secretary who solicits prospects on the telephone. The exceptions, reductions, and limitations affecting the basic provisions of the policy, Any advertisement that mentions a dollar amount, period of time for which any benefit is payable, cost of policy, policy benefit, or the loss for which the benefit is payable MUST disclose.
Paano Mo Mapahahalagahan Ang Mga Nabanggit Na Kontribusyon Ipaliwanag,
Articles A