New york accident and health insurance Questions & Answers Solved 100% Correct!!

Accellerated Death benefits can effect - whether you get public assistance program help - information about the effects on the policy of accellerated death benefits must be shown to the policy holder Adjuster License - acts on behalf of th insurer to investigata and sjust claims arising under insurance contracts issued by the insurer Advertising - All ads must state the insurance co's name and the city town or village where it maintains its principal office in the us. - an insurer may not advertise its financial condition without stating its assets, liabilities, suprlus and legal reserves - coannot inclue the fact that the life insurance company guaranty corp will protect a consumers interest in a life insurance policy - can not guarantee that a dividend is guaranteed Advertising - must contiain the name of the insurance company Agent Licesne - Noone can sell insurance without license but you dont need to pass test if you are employees of licesed insurance agent wh do nt solicit, licensed attorneys, actuaries or cpas who provid ino, regular salaried implyees who devote little tie, an agent oof a graternal benefit society - must be 18, pass 540 hr course - pass state exam - Application must be submiteed w in 2 years - renewal every 2 years on birthday Annuity Contract provision - - grace period of 31 days - incontestable after 2 years - the contract with the applcation shall constitute the entire contract - if the age of sex is mistated, th amount paybale or benefit accruing will be adjusted- the insurer shall ascertain and apportion any divisible surpluss accruing on the contract - if any contract or certificate requiring payments to be made to the insurer that at any time w in 3 years from the date of default, the contract shall be reinstated and the insurer will apy all overdue payments - annuity contracts musts include provisions providing for non forfeiture benefits and cash surrender Appointment and Termination of Appointment - All insureres myst file a ciertificate of appointment in order to appoint insurance agents. Then you have 15 days to appoint a producer from the date the agency contract is executed. If you've been fired, you have 30 days to tell the super why you were fired and then the super has 15 days to send the info back to you confirming it, Buyers guide - must be given to applicant at or prior to the time an application is taken. Certificate of appointment - if a license is granted to an corporation, , only the officers and directors named on the license can act as agents, but they can sub license agents. Every time a new agent comes on boad, they need a certificate of appointment from the state Change of Address time frame - a licensee has 30 days to inform dept of insurance Complaint records - must be kept for 3 years Consultant - Allows a person with a license to charge a fee for providing advice - if given to an indivual, it experires every 2 yrs on the birthday - if issued to a business entity, it expires on March 31st for life insurance in an odd yyear and general insurance in an even year - can only recieve a fee if there's a written contract with the person they are providing advice Continuing Ed - must to 15 hrs every 2 years Contolled Business - An agent can write their own policies and get a commission but hte cant do it if its more than 10% of overall commission feesDefamation of insurer - anyone engaged in defamation is guilty of a misdemeanor punishable by a fine of not more than 1k, a year of prison or both, Defined Violation - performing an act prohibited by NY Statutes Determined Violation - a violation that's been determined after hearing