NYS Life, accident, and health insurance Exam/already pass/2024

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? - 30-year decreasing term. How many days notice does the ACA require insurers to give before rescinding coverage? - 30 A signed good health statement may be requested by a life producer at the time of - 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 - 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? - 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 - 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) - Single premium deferred annuity Which of these is NOT a factor that influences group health insurance underwriting? - Physical exams of group members What is the grace period required for an individual accident and health insurance policy with monthly premiums? - 10 days In regards to technology and the ACA, which of the following statements is correct? - States which operate with an Exchange must offer an internet-based portal Insurable interest involves what assumption? - One person benefits from another person's continued life Which of these policies is considered a whole life policy? - Single premium life Which of the following would be considered an unfair claims settlement practice? - Misrepresenting pertinent policy provisions relating to coverage after a loss A policyowner is permitted to take out a policy loan on a whole life policy at what point? - When the policy has a cash value Which of these is NOT a factor during the health insurance underwriting process? - Former residence New York workers compensation laws exclude benefits for disabilities caused by - Intentional, self-inflicted injuries occurring on the job When premiums are determined, one factor would be the expenses of the - Insurer Scott has a life insurance policy in which the dividends are left with the insurance company. This particular policy may be paid up when the cash value plus accumulated dividends - equal the net single premium for the same face amount at the insured's attained age During open enrollment for Medicare Supplement coverage, an applicant MUST be at least - There is no minimum age requirement What happens to the cash value of a market value adjusted annuity if it's surrendered prior to the end of the stated guarantee period? - Subject to market value adjustment Which of the following contracts offer deferred taxation, flexible payments, a guaranteed interest rate, and death benefits e