Studienführer, Klassennotizen & Zusammenfassungen

Replacement regulation is designed to protect - ANSWER Policyowners from mirepresentation and loss of benefits All Health Benefit Plans issued after January 1, 2014 must provide - ANSWER Preventative health services Which of these will have the highest monthly payout upon annuitization - ANSWER Straight life Which of the following is included in the entire contract according ti the entire contract provison? - ANSWER Clauses

life insurance - ANSWER insurance that pays to a named beneficiary or the deceased's estate upon the death of the insured,may b annuity or endowment, may incl benef for accident death/dismemberment, disability, protects against risk pf premature death which exposes a finNcial riskto family or business. ie:burial expenses, pay debts, loss of family inc/business profits insurance - ANSWER content that indemnifies another against loss, damage, liab arising from unknown event

Adverse Selection - ANSWER insuring of risks that are more prone to losses than the average risk lapse - ANSWER policy termination due to nonpayment of premium Insurance - ANSWER transfers risk of loss from an individual or business entity to an insurance company which in turn spreads the costs of unexpected losses to many individuals Life Insurance - ANSWER protects against loss associated with an insured's death, and pays a death benefit to beneficiaries upon death of the insured

The Commissioner conducts an examination of a domestic insurer and believes that the costs of examination places an unreasonable financial burden on the insurer. Which of the following will happen? a. The federal government will absorb the full cost b. The federal government will absorb part of the cost, and the state government will absorb the rest of the cost c. The costs will be reduced to the amount that the examinee can reasonable pat; the rest will be paid by the federal government ...

401 K plan - ANSWER A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars Absolute Assignment v. Collateral Assignment - ANSWER Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner.

Which of the following is NOT a characteristic of a Variable Annuity? A. Premium Payments may be level or flexible or single premium B. The cash values are invested in securities. C. The non-forfeiture values will provide for the return of the cash value should the annuitant die during the accumulation period. D. It provides for a tax-free death benefit. - ANSWER D. It provides for a tax-free death benefit.

Who is considered a field underwriter? - ANSWER An agent When must insurable interest exist in life insurance? - ANSWER Application or issue date If no receipt is issued at the time of application, a statement of good health is usually required at the time of? - ANSWER Policy delivery The Medical Information Bureau is?(MIB) - ANSWER a source of medical information to alert insurers to adverse medical history

a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - ANSWER they are not guaranteed

The key factor of representation that allows the intraparty to resend the contract is - ANSWER If the representation is false any marital point The written instrument in which a contract of insurance is set forth is known as - ANSWER A policy What is the term for a sale campaign conducted through mail - ANSWER Direct response What is reassurance - ANSWER An agreement between Cedar and assuming insurer Factual statements about the insured or the inch the risk insurance policy are considered...

Additional coverage can be added to a Whole Life policy by adding a(n) - ANSWER decreasing term rider All of these statements about the Waiver of Premium provision are correct EXCEPT - ANSWER Insured must be eligible for Social Security disability for claim to be accepted Which of these is an element of a Single Premium annuity? - ANSWER Lump-sum payment A lump-sum payment is required for a Single Premium annuity