NC Health Insurance

All of the following are true regarding Key Employee Disability Income insurance EXCEPT A) Premiums are not tax deductible for the employer. B) Benefits are taxable to the employer. C) The employer owns the policy. D) Benefits are paid to the employer to retrain a new person. - ANSWER B) Benefits are taxable to the employer. Key person disability income premiums are not deductible to the business, but the benefits are received income tax free by the business. How is emergency care co...

Definitions - Broker - ANSWER Means a person who, being a licensed agent, procures insurance for a party other than himself through a duly authorized agent or an insurer that is licensed to do business in this State bur for which the broker is not authorized to act as an agent. Definitions - Limited Representative - ANSWER Means a person is authorized by the Commissioner (Wayne Goodwin) to solicit or negotiate contracts for particular kinds of insurance (Motor Club, Dental, Travel) and which ...

Which of the following is not one of the 12 required provisions for health insurance policies set forth by the NAIC? - ANSWER waiver of premium provision Medical expense policies cover a wide range of services and care. The way in which they cover the cost of these services and the way in which covered care services are delivered depends on which of the following? - ANSWER the plan or policy Which statement about disability reducing term insurance policies is NOT correct? - ANSWER The ...

risk avoidance - ANSWER occurs when individuals evade risk entirely risk reduction - ANSWER occurs when chances of risk are lessened risk retention - ANSWER is being aware of the risks involved and taking precautions for financial protection. risk transference - ANSWER is the act of shifting the responsibility of risk to another in the form of an insurance contract. physical - ANSWER A bodily disease of endangerment, such as cancer, presents a _____ hazard. morale - ANSWER A menta...

NC Health Insurance Exam Pearson Vue Latest Graded A+ Pure Risk chance of loss or no loss but not gain insurable Speculative Risk there is possibility of loss but of gain no insurablility exposure unit subject to loss peril cause of loss life insurance death Health insurance accident and sickness hazard increases the likelihood or severity of loss Three types of hazard physical, moral, morale physical hazard arise from the inherent characteristi...

Final Exam - North Carolina Life and Health with Verified Solutions Graded A+ Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT free-look period has expired Additional coverage can be added to a Whole Life policy by adding a(n) decreasing term rider A...

NC Health Insurance Exam Pearson Vue Latest Graded A+ Pure Risk chance of loss or no loss but not gain insurable Speculative Risk there is possibility of loss but of gain no insurablility exposure unit subject to loss peril cause of loss life insurance death Health insurance accident and sickness hazard increases the likelihood or severity of loss Three types of hazard physical, moral, morale physical hazard arise from the inherent characteristic of the exposure unit Moral H...

Lesson 11: NC Statutes & Regulations Pertinent to Life Insurance Questions and Answers Graded A+ Contract of Insurance Agreement by which the insurer is bound to pay money or its equivalent, or do some act of value to the insured upon and as an indemnity or reimbursement for the destruction, loss, or injury of something in which the party has an interest. Commissioner Commissioner of Insurance of NC or authorized designee -Heads state Department of Insurance -Responsible for fair ratemak...

NC Insurance Licensing Exam Questions and Answers 100% Pass P is a producer who notices 5 questions on a life application were not answered. What actions should P take? Set up a meeting with the applicant to answer the remaining questions Which of the following does Social Security NOT provide benefits for? Dismemberment An Accident/Health policyholder has ____ days to return the policy and receive a full refund on premiums 10 Under a Renewable Term policy, the renewable premium is cal...

Final Exam - North Carolina Life and Health with Verified Solutions Graded A+ Which of the following is the MOST important factor when deciding how much Disability Income coverage an applicant should purchase? M completes an application for life insurance but does not pay the initial premium. All of these actions must occur before M's policy goes into effect EXCEPT free-look period has expired Additional coverage can be added to a Whole Life policy by adding a(n) decreasing term rider A...