NYS Life, accident, and health insurance Exam Questions with complete solutions

Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-year mortgage in the event of the insured's death? - ANSWER-30-year decreasing term. How many days notice does the ACA require insurers to give before rescinding coverage? - ANSWER-30 A signed good health statement may be requested by a life producer at the time of - ANSWER-Policy Delivery Carol purchases a whole life policy that provides a choice of dividend options. This policy is required to include a statement that the dividends are - ANSWER-Not Guaranteeed Tim is confined to a nursing home but doesn't have a terminal illness. Which life insurance rider is designed to help pay for this type of expense? - ANSWER-Long-term care benefit rider An insured is covered under a group long-term disability policy. Under this type of policy, the definition of disability based on any occupation typically applies - ANSWER-After two years of disability Sylvia purchased an annuity for $100,000 from the proceeds of an inheritance. No further payments are permitted and the income stream begins in 15 years. This contract is a(n) - ANSWER-Single premium deferred annuity Which of these is NOT a factor that influences group health insurance underwriting? - ANSWER-Physical exams of group members