California Life and Health 148 Questions with 100% Correct Answers | Verified 2023

Employer-provided group term life insurance is exempt from income taxation up to - ️️$50,000 Medicare Part B has an initial enrollment period. How many months after an individual's 65th birthday month does this enrollment period end? - ️️3 months Which statement is true regarding policy dividends? - ️️A dividend option is selected by the insured at the time of policy purchase What does the insurance term "indemnity" refer to? - ️️Make whole What is a common reason people purchase an annuity? - ️️To protect against the risk of outliving their financial resources The importance of a representation is demonstrated in what rule? - ️️Materiality of concealment Who does a life settlement broker represent? - ️️Individual wanting to sell their life policy to a third party Who is financially liable for the payment of covered claims in a fully insured group health plan? - ️️Insurer The Human Life Value concept is based on - ️️income