Final Exam-Michigan Life and Health Questions and Answers Already Passed

Final Exam-Michigan Life and Health Questions and Answers Already Passed What amount will be paid under a policy where the insured misstated his/her age? an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days 30 days which of these is considered to be a Living benefit option in a life insurance policy Accelerated death benefit loans obtained by a policy owner against the cash value of a life insurance policy would not be treated as taxable income A long term care policy typically provides all of the following levels of care EXCEPT acute care the elimination period under a hospital indemnity plan is the specific # of days an insured must wait before becoming eligible to receive benefits for each hospitalization what is an insurance policy's grace period? Period of time after the premium is due but the policy remains in force How do interest earnings accumulate in a deferred annuity On a tax-deferred basis a licensee who is required to take continuing education Must include how many ethics coursework hours 3 the automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value the amount of Past due premiums that have not been paid by the end of the grace period health insurance involves two perils, accident and ______ sickness Who is responsible for assembling the policy forms for insureds Insurance carriers a securities license is required for a life insurance producer to sell variable life insurance Which of the following is NOT an illegal inducement giving the insured an article of merchandise printed with the producers name costing 5$ Which of the following is NOT a federal requirement of a qualified plan? employee must be able to make unlimited contributions Which dividend option would an insurer invest the policy owner's money and add any interest earnings as the dividends accrue? Accumulation at interest option a health insurance policy will typically cover