Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Questions with 100% Correct Solutions

Xcel Testing Solutions- Life and Health Insurance- Weighted Exam- 150 Questions with 100% Correct Solutions The Do Not Call Registry offers exemptions for calls placed from all of the following EXCEPT - Correct Answer ️️ -insurance sales calls Charities, political organizations, and surveys are all offered exemptions from The Do Not Call Registry The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called - Correct Answer ️️ -cancelable The renewability provision in a cancelable policy allows the insurer to cancel or terminate the policy at any time, simply by providing written notification to the insured and refunding any advance premium that has been paid. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n) - Correct Answer ️️ -Guaranteed insurability rider A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates or events without evidence of insurability. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered - Correct Answer ️️ -Noncancellable A noncancellable policy cannot be cancelled nor can its premium rates be increased under any circumstances. In what part of an insurance policy are policy benefits found? - Correct Answer ️️ - Declarations Essentially, the insurance declaration page is like a quick guide to the insurance policy, providing all of the basic information the policyholder needs to know. What happens if the insurer discovers that the insured's age was accidentally misstated on an application for an individual life insurance policy? - Correct Answer ️️ -Benefits will be calculated according to how much coverage the premium paid would have purchased for the correct age Benefits will be calculated according to how much coverage the premium paid would have purchased for the correct age. Health insurance will typically cover which of the following perils? - Correct Answer ️️ - Injury due to accident Accidental injury is typically a covered peril in health insurance. A viatical settlement contract is an agreement between - Correct Answer ️️ -A life insurance policyowner and a viatical settlement provider A viatical settlement contract is an agreement between a life insurance policyowner and a viatical settlement provider. Under the Affordable Care Act, how would a grandfathered health plan lose its grandfathered status? - Correct Answer ️️ -The insurer significantly raises co- insurance charges, deductibles, or co-payment charges According to the Affordable Care Act, grandfathered health plans may lose their grandfathered status if the insurer significantly raises co-insurance charges, deductibles, or co-payment charges Which of these techniques will remove the risk of losing money in the stock market by never purchasing stocks? - Correct Answer ️️ -Risk avoidance Risk avoidance could eliminate the risk of losing money in the stock