Ohio life and Health Insurance Practice Final Already Passed

Ohio life and Health Insurance Practice Final Already Passed Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax- deductible when paid for which of the following plans? - Answer ️️ -Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - Answer ️️ -long-term care An attending physician's statement would be appropriate for which life insurance purpose? - Answer ️️ -At the request of the insurer to assist in the underwriting decision Craig submits a $500 claim for medical expenses. With a past due premium of $100, the insurer pays $400. Which of the Uniform Optional Provisions covers this situation? - Answer ️️ - Unpaid premium Of the following dividend options, which of these is taxable? - Answer ️️ -Accumulation at interest An endorsement found in an insurance plan which modifies the provisions of the policy is called a(n) - Answer ️️ -Rider Which of the following statements is CORRECT regarding an individual applying for life or health insurance? - Answer ️️ -The applicant's medical history may be analyzed and reported Sole proprietors are permitted tax deductions for health costs paid from their earnings in the amount of - Answer ️️ -100% of costs Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25. How much will she have to pay if she, not having met any of her deductible, visits the doctor and receives a bill for $125? - Answer ️️ -$50.00 When calculating the amount of life insurance needed for an income earner, what has to be determined when using the Needs Approach? - Answer ️️ -The family's financial objectives if the income earner were to die or become disabled A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called - Answer ️️ -A self-funded plan If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? - Answer ️️ -A prorated death benefit based on the amount of insurance the insured's premiums would have been if purchased at the correct age Which of the following is permitted in an advertisement for an insurance policy? - Answer ️️ - The insurer's name Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? - Answer ️️ -Payor benefit A type of insurer that is owned by its policyowners is called - Answer ️️ -mutual An annuitant dies during the distribution period. What kind of annuity will return to a beneficiary the difference between the annuity value and the income payments already made? - Answer ️️ - Refund annuity A form of medical health insurance covering the treatment and care of gum disease is called - Answer ️️ -Dental expense ins