New York Life, Accident and Health Insurance Pre-Final Exam | 150 Questions with 100% Correct Answers | Verified | Latest Update 2024

What happens when an initial offer is answered with a counteroffer? - Initial offer is void According to the Affordable Care Act (ACA), dependent children may remain on their parent's plan until what age? - Age 26 The premiums paid by an employer for his employee's group life insurance are usually considered to be - tax-deductible to the employer A family group accident and health insurance policy must continue coverage for each unmarried child at least until age - 19 A life insurance beneficiary died after receiving only six payments under the policy's life income settlement option. What happens with the remaining balance of the death proceeds? - Kept by the insurance company When an individual is planning to protect his family with life insurance, one method of doing so is called needs analysis. What exactly does needs analysis involve? - Identifies the needs of an individual and the individual's dependents A retired couple would like to maximize the income derived from their combined life savings and have it payable until they both die. Which annuity would be their best choice? - Joint and survivor annuity