MICHIGAN LIFE, ACCIDENT, AND HEALTH EXAM PREP QUESTIONS AND ANSWERS GRADED 100%

MICHIGAN LIFE, ACCIDENT, AND HEALTH EXAM PREP QUESTIONS AND ANSWERS GRADED 100% A policyowner may change two policy features on what type of life insurance? - -Adjustable life The legal action provision in a health contract is limited to no more than ___ years. - -5 Long-Term Care policies may provide coverage for claims arising from - -Senile dementia In group health care, what is the purpose of the coordination of benefits provision? - -Determines what is paid by the primary and secondary insures in the event of a claim All of the following riders can increase the death benefit amount EXCEPT -Cost of Living -Waiver of Premium -Accidental Death Rider -Guaranteed Insurability - -Wavier of premium Frank is shopping for a disability income policy. Which of the following would have the HIGHEST premium? -14 day waiting period / 5 year benefit period -14 day waiting period / 10 year benefit period -28 day waiting period / 5 year benefit period -28 day waiting period / 10 year benefit period - -14 day waiting period / 10 year benefit period Which of the following is NOT a federal requirement of a qualified plan? -Must benefit a broad cross-section of employees -Employee must be able to make unlimited contributions -Vesting schedule must be defined -Employer establishes the plan - -Employee must be able to make unlimited contributions A provision that allows a policyowner to withdraw a policy's cash value interest free is a(n) - -Partial surrender In Michigan, legal action can be taken against an insurer for failure to pay LIFE insurance claims for a period not to exceed - -6 year All of the following are examples of a Business Continuation Plan EXCEPT - -Deferred compensation A producer MUST be appointed by the insurer within how many days from the date the agency contract application is submitted? - -15 Small employers who are sponsored by an insurer to provide group benefits to its employees are called - -MEWA Tom has a home health care benefit and is confined to his home. Which of these benefits is NOT typically covered? - -Full time nursing care An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a(n) - -group HMO Which of these will typically authorize treatment from a specialist? - -Gatekeeper