Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Q&A

The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT ️Ans - insurance sales calls Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called ️Ans - cancelable The renewability provision in a cancelable policy allows the insurer to cancel or terminate the policy at any time, simply by providing written notification to the insured and refunding any advance premium that has been paid. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n) ️Ans - Guaranteed insurability rider A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates or events without evidence of insurability. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered ️Ans - Noncancellable A noncancellable policy cannot be cancelled nor can its premium rates be increased under any circumstances. In what part of an insurance policy are policy benefits found? ️Ans - Declarations Essentially, the insurance declaration page is like a quick guide to the insurance policy, providing all of the basic information the policyholder needs to know. What happens if the insurer discovers that the insured's age was accidentally misstated on an application for an individual life insurance policy? ️Ans - Benefits will be calculated according to how much coverage the premium paid would have purchased for the correct age