Michigan Life and Health Questions + Answers Graded A+

"Maximum benefits" refers to the - upper limit of the total lifetime benefits the insurance company will pay a 10% exercise tax is normally applied to an early withdrawal from an IRA. according to HIPAA, this tax will not be applied If the withdrawal is used for medical expenses that exceed__ of the individuals adjusted gross income - 7.5% A change in an insurance application requires - an initial made by the applicant A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilization - benefit limits a dread disease policy is considered to be a type of - limited health insurance policy a father has a son who is mentally handicapped but not eligible for Medicare. the son is dependent on his father. under which of the following circumstances can the son remain on the fathers coverage after the age of 26. - with written proof of disability and dependency A fee for service health insurance plan will normally cover - a disease a field underwriter's main task is - to ensure an applicants medical information is accurate and complete a form of medical health insurance covering the treatment and care of gum disease is called - dental expense insurance a group disability income plan that pays tax-free benefits to covered employees is considered - fully contributorya health insurance policy that allows an insurer to change the policy owner's premiums, but not cancel the policy is called a(n) - guaranteed renewable policy a health insurance policy will typically cover - preventative health services a hospital or medical expense policy will typically cover dental treatment expenses under which circumstance - dental treatment is needed to repair an injury A licensee who informs an insured of inaccurate terms, benefits, or advantages of any policy is committing which of the following violations? - Misrepresentation a licensee who is required to take continuing education Must include how many ethics coursework hours - 3 a life insurance policy owner was injured in a car accident which results in a total and permanent disability. which rider would pay a monthly amount because of this disability? - Disability income rider a limited payment whole life policy provides - lifetime protections A long term care policy typically provides all of the following levels of care EXCEPT - acute care A master contract and certificate of coverage can be found in which type of policy? - group a Medicare supplement plan can be canceled by the insurer - for nonpayments of premiums A Medicare Supplement policy is issued in the state of Michigan is required to provide each of the following EXCEPT - It must include outpatient prescription drug coverage a non-contributory health insurance plan helps the insurer avoid - adverse selection