Washington Laws and Rules Pertinent to Insurance (with 100% Acknowledgement)

Violations of US Code Title 18 section 1033, may result in correct answers Fine and/or imprisonment Charles is a producer who is licensed in Washington but resides in Oregon. Charles is considered to be a(n) correct answers Nonresident producer Before a producer may sell, solicit, or negotiate insurance from an insurer, the producer must have a(n) correct answers Appointment The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as correct answers Twisting An example of an unfair claims settlement practice is correct answers Turning down a claim without providing the basis of denial One role of the Commissioner is to correct answers Enforce state insurance laws Every producer licensed in Washington must notify the Commissioner within ___ days of any change of the address. correct answers 30 The identity of the _____ must be made clear in every health (disability) insurance advertisement. correct answers Insurer A life insurance policy becomes incontestable after it has been in force for correct answers 2 years Advertising regulations exist to correct answers Assure full and truthful disclosures to the public When a Medicare Supplement insurance policy is being replaced, who must sign the notice of replacement? correct answers The producer and the applicant What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? correct answers 12 months No legal action can be initiated after ___ years from the initial time written proof of loss has been provided. correct answers 3 When replacing a life insurance policy, a producer must provide the applicant with a correct answers Notice Regarding Replacement A Medicare Supplement policy can be cancelled by the insurer for correct answers Nonpayment