Arizona life and health final exam Questions & Answers 100% Correct!!

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: - ANSWERBenfit payments and overinsurance A life insurance policy can usually be contested by the insurer only during the first ____ years of the contract - ANSWER2 years After an annuity has been in force for ____ years, it becomes incontestable - ANSWER2 years In long term care insurance, what is the length of time for which claims will be paid - ANSWERBenefit period After an insurance application has been originated, the producer normally - ANSWERIs the major personal contact to the insured What happens to a life insurance policy when the policy loan balance exceeds the cash value - ANSWERPolicy will no longer be in force The ACA must ensure a sufficient choice of ______ in the marketplace - ANSWERProviders Which of the following statements BEST describes employer contributions for employer provided health insurance - ANSWEREmployer contributions are deductible An annuity's accumulation period may - ANSWERContinue after the purchase payments stop Which of these is NOT an underwriting responsibility of a life insurance agent - ANSWERDetermining the final rate classification What happens to the death benefit of a life insurance policy if the insured elects a partial payment from the accelerated (living) benefit provision - ANSWERReduced Mike applied for life insurance and was issued a conditional receipt. He is later found to be insurable and is issued a policy. When does his coverage become effective? - ANSWERDate of issuance of the conditional receipt Which of the following actions may result in a producers license being suspended? - ANSWERMisappropriation of premiums