SC Accident. Health, and Life Insurance Exam Questions And Answers

SC Accident. Health, and Life Insurance Exam Questions And Answers Annuity Certain - ANS Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she is seeking is called Survivorship Life - ANS The type of policy which pays on the death of the last person is called Malign another insurer - ANS Defamation occurs when a producer makes a false statement intended to A 70 year old NOT eligible for Social Security *You are not eligible to receive Medicare Part A benefits at age 65 or older if you are eligible to receive Social Security benefits - ANS Part A Hospital coverage provided under Medicare is automatically made available to each of the following EXCEPT At the time of application - ANS According to life insurance contract law, insurable interest exists the policy loan value which the insured may borrow against - ANS A whole life insurance policy accumulates cash value that becomes upon changing his or her legal name *the producer must notify the Department upon changing his or her legal name. - ANS A licensee MUST notify the Department of a legal name change Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid. *coordination of benefits allows the secondary payor to reduce their benefit payments so that no more than 100% fo the claim is paid. - ANS Which of the following does Coordination of Benefits allow? Determines what is paid by the primary and secondary insurers in the event of a claim. - ANS In group health care, what is the purpose of the coordination of benefits provision? Losing money at a casino