PSI Actual Exam Study Guide Questions with Verified Answers

PSI Actual Exam Study Guide Questions with Verified Answers What does first-dollar coverage mean? - Answer- As soon as covered medical expenses are incurred, the policy begins to pay. Which of the following must be given to the insurer within 20 days after occurrence or commencement of any loss covered by the policy, or as soon thereafter as is reasonably possible? - Answer- Notice of claim How might someone cover the extra expenses of child care and home-related costs? - Answer- Purchasing family term insurance Why is the accidental death benefit referred to as double indemnity? - Answer- It provides twice the face value in the policy for death due to accident What is the return of premium rider? - Answer- An increasing amount of term insurance that always equals the total of premiums paid up to the current point.