Alabama Insurance Final Exam || All Answers Are Correct 100%.

Bart is injured and provides notice of a health claim to his insurer. He later receives the required claims forms. Within how many days of the loss must Bart file proof of loss with the insurance company? correct answers 90 Which welfare program provides assistance to the needy? correct answers medicaid Who is considered the individual that retains all rights, values, and options of an insurance policy? correct answers the policy owner Long Term Care policies normally provide benefits for: correct answers home health care A Long-Term Care (TLC) policy has a minimum renewability level of: correct answers guaranteed renewable Which of these statements accurately portray a whole life policy? No cash value accumulates Requires a conversion for coverage extending past age 70 Endows at age 70 and paid up at a stated time Endows at age 100 and paid up at a stated time correct answers endows at age 100 and paid up at a stated time Paula has an insurance policy that has a guaranteed minimum cash value, a guaranteed death benefit, fixed premiums, and grows at a rate reflected by a selected fund index. Which type of life policy fits this description? correct answers equity indexed life How long must a producer keep complete records pertaining to his/her insurance transactions? correct answers three years A policyowner can collect the face amount on what type of policy? correct answers endowment policy Which of these statements regarding an insurance application is true? All statements made on an application are considered to be warranties A representation is valid as long as it is true A representation made by an applicant is guaranteed to be true A warranty is not guaranteed to be true correct answers a representation is valid as long as it is true A life insurance producer's agency agreement normally authorizes the license to do all of the following, EXCEPT: