Louisiana Life and Health 2024 Exam Questions And Answers Rated A+ New Update Assured Satisfaction

When are group disability benefits considered to be tax-free to the insured? - Answer-When the recipient pays the premiums An insurable interest in each other's lives may exist in absence of an economic interest when the individuals are - Answer-Marriage partners What is the elimination period of an individual disability policy? - Answer-Time period a disabled person must wait before benefits are paid What happens to interest earned if the annuitant dies before the payout start date? - Answer-It is taxable In which of the following situations would the insurer be liable for a loss? - Answer-The insured suffered an injury as an innocent bystander during a bank robbery In what form do disability income policies typically pay benefits? - Answer-Periodic income Which of the following is typically NOT eligible for coverage in a group health policy? - AnswerTemporary employee Which of the following would be considered a possible applicant and contract policyholder for group health benefits? - Answer-Employer A Medicare Supplement Policy is - Answer-designed to fill in the gaps of Part A and Part B Medicare Under a Modified Endowment Contract, what are the likely tax consequences? - Answer-Pre-death distributions will become taxable In a Long-Term Care policy, activities of daily living (ADL's) can be each of the following EXCEPT - Answer-TalkingWhich of the following is an annuity that is linked to a market-related index? - Answer-Equity-indexed annuity An insurer operating in the U.S. but headquartered outside the U.S. is - Answer-an alien insurer Group dental plans will frequently place a limit on annual benefits in order to minimize - Answeradverse selection All of the following are considered to be fraud EXCEPT - Answer-collecting a charge for insurance that is less than the charge applicable to that insurance A producer's license in Louisiana must be renewed every - Answer-Two years An insured has a health plan that pays established amounts in accordance with a list of injuries, surgical procedures, or other losses. This list is called a - Answer-benefit schedule Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits must - Answer-be the same and the premium cannot exceed 102% If a producer has been engaged in an administrative action by any governmental agency, within how many days following the final deposition must the producer report the action to the Commissioner? - Answer-30 Ownership of a life insurance policy may be temporarily transferred with a(n) - Answer-collateral assignment Under a Traditional IRA, interest earned is taxed - Answer-upon distribution