Final Exam- Tennessee Life & Health Questions and Answers 100% Pass

The reason for a business having a Business Overhead Expense Disability Plan is to cover: - Answer Fixed Business Expenses What is the initial requirement for an insured to become eligible for benefits under the Waiver of Premium provision? -Answer Insured must be under a physician's care K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? -Answer Conditional Which of the following policy provisions prohibits an insurance company from incorporating external documents into an insurance policy? -Answer Entire Contract The Consideration clause of an insurance contact includes -Answer The schedule and amount of premium payments M's insurance company denied a reinstatement application for her lapsed health insurance policy. The company did not notify M of this denial. How many days from the reinstatement application date does the insurance company have to notify M of the denial before the policy will be automatically placed back in force? -Answer 45 days P is a Major Medical policyowner who is hospitalized as a result of injuries sustained from participating in a carjacking. How will the insurer most likely handle this claim? -Answer Claim will be denied How often must the Commissioner examine each domestic company? -Answer Every Five Years What is being delivered during a policy delivery? -Answer Insurance contract to the proposed insured