Michigan Life, Accident, And Health Insurance Practice Latest Update 2023
What percentage of a participant's income are group long-term disability benefit amounts typically limited to? - ANSWER 60% A life insurance policy which contains cash values that vary according to its investment performance of stocks is called - ANSWER Variable whole life Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? - ANSWER Accidental bodily injury provision All of the following are examples of pure risk EXCEPT -Losing money at a casino -Injured while playing football -Falling at a casino and breaking a hip -Jewelry stolen during a home robbery - ANSWER Losing money at a casino A life insurance policy that is subject to a contract interest rate is referred to as - ANSWER Universal Life Which situation accurately describes a reduced paid-up nonforfeiture option? - ANSWER Policy has a decreased face amount Which type of clause describes the following statement: "We have issued the policy in consideration of the representations in your applications and payment of the first-term premium". - ANSWER Consideration clause Must be provided by HMO care - ANSWER Home health care Which type of annuity stops all payments upon the death of the annuitant? - ANSWER Life annuity
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