ARIZONA LIFE AND HEALTH FINAL EXAM 2024

ARIZONA LIFE AND HEALTH FINAL EXAM 2024 The purpose of the 'No loss No Gain' provision is to avoid duplication of _____ and _____ when an individual is covered under multiple group health insurance plans: - correct answer Benfit payments and overinsurance A life insurance policy can usually be contested by the insurer only during the first ____ years of the contract - correct answer 2 years After an annuity has been in force for ____ years, it becomes incontestable - correct answer 2 years In long term care insurance, what is the length of time for which claims will be paid - correct answer Benefit period After an insurance application has been originated, the producer normally - correct answer Is the major personal contact to the insured What happens to a life insurance policy when the policy loan balance exceeds the cash value - correct answer Policy will no longer be in force The ACA must ensure a sufficient choice of ______ in the marketplace - correct answer Providers Which of the following statements BEST describes employer contributions for employer provided health insurance - correct answer Employer contributions are deductible An annuity's accumulation period may - correct answer Continue after the purchase payments stop