Texas Life and Health Insurance Practice Test Graded A+

Texas Life and Health Insurance Practice Test Graded A+ T owns an Accident & Health policy and notifies her insurance company that she has chosen a less hazardous occupation. Under the Change of Occupation provision, which of the following actions may her insurance company take? - ANSWERIncrease her policy's coverage amount When an insurer issues a policy that refuses to cover certain risks, this is referred to as a(n) - ANSWERExclusion An agent who tells claimants that their rights may be impaired if they fail to complete a release form within a given period of time could be guilty of..? - ANSWERCoercion What does the insuring agreement in a Life insurance contract establish? - ANSWERAn insurer's basic promise The first portion of a covered Major Medical insurance expense that the insured is required to pay is called the..? - ANSWERInitial deductible A "reimbursement policy" pays what amount of covered Long-Term Care expenses? - ANSWERActual covered expenses up to the daily maximum The agreement in a life insurance contract that states a specific sum of money will be paid to a designated person upon an insured's death is called a(n) - ANSWERInsuring agreement W is a 39-year old female who just purchased an annuity to provide income for life starting at age 60. All of these would be acceptable annuity choices EXCEPT a(n) - ANSWERImmediate annuity Which of these are NOT an example of a Nonforfeiture option? - ANSWERLife Incom