Oklahoma life and health insurance Questions with
Detailed Verified Answers (100% Correct Answers)
/Already Graded A+
Fair credit reporting act Answer: Federal law governing how agencies collect,
store, and use data related to credit information.
COBRA (Consolidated Omnibus Budget Reconciliation Act) Answer: Extends
group health coverage to terminated employees and their families as they look
for another job
ERISA (Employee Retirement Income Security Act of 1974) Answer: is a federal
law that sets minimum standards for most voluntarily established pension and
health plans in private industry to provide protection for individuals in these
plans.
Oklahoma insurance code Answer: This code encompasses a wide range of
insurance-related topics, from defining terms to regulating the insurance
industry and protecting consumers.
Oklahoma insurance guaranty association Answer: Protects consumers in the
event of insurance insolvency
Accelerated benefits rider (living benefits) Answer: Requires most life policies
to offer a living‐benefit rider allowing early payout if the insured is terminally ill
Capacity to contract for insurance - minors Answer: Contracts with minors are
voidable at the minor's option—but the insurer can rescind within a short
window after notice.
Domestic insurer Answer: An insurer in the state of current residence
Foreign insurer Answer: An insurance company in another state
Alien insurer Answer: An insurance company out of the country
© 2025 Get it right Stuvia US All rights reserved
Detailed Verified Answers (100% Correct Answers)
/Already Graded A+
Fair credit reporting act Answer: Federal law governing how agencies collect,
store, and use data related to credit information.
COBRA (Consolidated Omnibus Budget Reconciliation Act) Answer: Extends
group health coverage to terminated employees and their families as they look
for another job
ERISA (Employee Retirement Income Security Act of 1974) Answer: is a federal
law that sets minimum standards for most voluntarily established pension and
health plans in private industry to provide protection for individuals in these
plans.
Oklahoma insurance code Answer: This code encompasses a wide range of
insurance-related topics, from defining terms to regulating the insurance
industry and protecting consumers.
Oklahoma insurance guaranty association Answer: Protects consumers in the
event of insurance insolvency
Accelerated benefits rider (living benefits) Answer: Requires most life policies
to offer a living‐benefit rider allowing early payout if the insured is terminally ill
Capacity to contract for insurance - minors Answer: Contracts with minors are
voidable at the minor's option—but the insurer can rescind within a short
window after notice.
Domestic insurer Answer: An insurer in the state of current residence
Foreign insurer Answer: An insurance company in another state
Alien insurer Answer: An insurance company out of the country
© 2025 Get it right Stuvia US All rights reserved
