Xcel solutions final exam Maryland Life and health questions and answers 100% pass

Xcel solutions final exam Maryland Life and health questions and answers 100% pass What is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? A reduction in benefits A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a Risk retention group During the application process, a statement made by an applicant that becomes part of the contract is considered to be a(n) Warranty What is taken into consideration when defining "total disability" in a disability income insurance policy? The insured's education, training and expirence Sarah, age 88, is a life annuitant who has lived beyond her life expectancy. The funds for additional benefit payments will be derived primarily from funds that were not distributed to life annuitants who died before life expectancy Which type of policy can group term life insurance normally be converted to? An individual permanent life insurance policy Impatient psychiatric care is covered under Part A Medicare insurance for 190 days per Lifetime A source of supplemental income for a life insurance policyowner can be derived from the Cash value The absolute assignment of a life insurance policy results in all incidents of ownership transferred to the assignee All of these statements concerning group credit life insurance are false EXCEPT The face amount is based on the outstanding loan balance Which statement concerning adjustable life insurance is accurate? The face amount and premiums can be changed simultaneously by the policyowner Which settlement option makes minimum guaranteed dollar payments over a stated number of years? Fixed-Period Insurance is NOT characterized as which of the following? As the number of insureds increase the number of losses decrease All of these statements correctly describe an aleatory contract EXCEPT Only one party makes any kind of legally enforceable offer Which of these policies is considered to be a comprehensive health policy? Major medical policy Which of the following is true regarding a person receiving a waiver of premium benefit? The insured must be disabled for a period of time Karen is a health maintenance organization (HMO) subscriber. Who provides all of her preventative and routine care? Primary care physician How would preventative care be encouraged in a dental plan? No deductible on routine examinations Which of the following financial products creates an instant estate, no matter when the date of death? Life insurance What happens to the death benefit of a life insurance policy if the insured elects a partial payment from the accelerated (living) benefit provision? Reduced An insured may be required to sign which document at policy delivery to endure there has not been any adverse medical conditions since the time of the application? Good health statement Which life insurance policy provision prohibits a beneficiary from "commuting, encumbering, withdrawing, or assigning" any portion of the proceeds prior to actual receipt from the company? Spendthrift clause Which of the following accurately describes a participating insurance policy? Policyowners may be entitled to receive dividends Which of the following is NOT a condition that must be met for an accident death benefit to be paid? Cause of death, must be from a job-related injury What are premiums for group credit life insurance based on? Flat rate unrelated to the borrower's age Which of the following contracts offer deferred taxation, flexible payments, a guaranteed interest rate, and death benefits equal to the cash value? Flexible premium fixed annuity When a producer acts within the scope of his/her contractual authority, which of the following is legally responsible for these actions? The insurer When a producer submits an application that discloses personal information regarding the applicant, who supplies the privacy notice? Producer Which statement regarding whole life insurance is accurate? Insurance coverage can continue for life A condition that increases the possibility of financial loss is called a(n) Hazard A disability income insurance policy was recently issued with a rating. What does this mean? Policyowner will be charged an additional premium A terminally ill policyowner decides t sell his life insurance policy at a discount to help support his family. This sale is called a(n) Viatical settlement Tim had an on-the-job accident and collects benefits from his individual disability income policy. Which factor could possibly reduce these benefits? Benefits he receives from workers compensation Which of the following is NOT an allowable exclusion for long-term care insurance policies? Care for incurable conditions Custodial care is normally covered under Long-term care insurance An insured, age 67, is covered under a disability income policy. What will the insurer normally require in order for the insured to continue coverage? The insured must be actively at work for a specified number of hours per week Which of these statements reflects an accurate portrayal of Medicare SELECT? Insured uses preferred provides in exchange for paying lower premiums Which life insurance clause prohibits an insurance company from questioning the validity of the contract after a stated period of time has passed? Incontestable clause A policyowner has just borrowed from a life insurance policy's cash value. which oof these statements is true? In the event of death, the loan amount is deducted from the policy proceeds Specialty care is provided by which oof the following health maintenance organization (HMO) providers? Neurologist Home health care benefits typically do NOT include coverage for Prescription medication XYZ Corp gives money to an employee to purchase a life insurance policy and allows the employee to select the beneficiary. What kind of plan is this? Split-dollar The amount of a covered loss to be paid by the insured before a major medical expense policy begins to pay is called the Deductible amount Tom has a qualified retirement plan with his employer that is currently considered considered to be 80% "vested". How can this be interpreted? If Tom's employment is terminated, 20% of the funds could be forfeited Which of the following is NOT guaranteed in a whole life policy? Dividend scale Third-party administration has become fairly common in accident and health insurance due to the growth of Self-funding of benefits Which of the following is NOT included as a hospice benefit under a major medical plan? Rehabilitation The owner's cost basis for a non-qualified deferred annuity is typically the same as the Total premium paid What is a Pap test designed to detect? Cervical cancer Which is an accurate description of the premium in a graded premium life insurance policy? Annual increases in premium for a stated number of years then remains level