Ohio life and Health Insurance Practice Final Already Passed

Ohio life and Health Insurance Practice Final Already Passed Premiums paid that exceed 7 1/2% of an insured's Adjusted Gross Income (AGI) are tax- deductible when paid for which of the following plans? - Answer ️️ -Qualified Long-Term Care plan All _____ policies must be guaranteed renewable. - Answer ️️ -long-term care An attending physician's statement would be appropriate for which life insurance purpose? - Answer ️️ -At the request of the insurer to assist in the underwriting decision Craig submits a $500 claim for medical expenses. With a past due premium of $100, the insurer pays $400. Which of the Uniform Optional Provisions covers this situation? - Answer ️️ - Unpaid premium Of the following dividend options, which of these is taxable? - Answer ️️ -Accumulation at interest An endorsement found in an insurance plan which modifies the provisions of the policy is called a(n) - Answer ️️ -Rider Which of the following statements is CORRECT regarding an individual applying for life or health insurance? - Answer ️️ -The applicant's medical history may be analyzed and reported Sole proprietors are permitted tax deductions for health costs paid from their earnings in the amount of - Answer ️️ -100% of costs Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25. How much will she have to pay if she, not having met any of her deductible, visits the doctor and receives a bill for $125? - Answer ️️ -$50.00 When calculating the amount of life insurance needed for an income earner, what has to be determined when using the Needs Approach? - Answer ️️ -The family's financial objectives if the income earner were to die or become disabled