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PSI: LIFE, ACCIDENT, AND HEALTH PRACTICE EXAM questions with verified answers
Dividends that are received by a life insurance policy holder can be taxed in what situation(s): I - When the dividend amount received exceeds the amount that the policy holder paid in premiums Ans-The amount received that is over and above the amount paid into the policy via premiums is considered to be gain and is therefore taxable. There are no dividends paid on term life insurance policies. Under the misstatement of age or gender provision, what happens if it is determined at death that...
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PSI Life, Accident, and Health Practice Exam questions with verified answers
A group conversion option may be used in all the following instances EXCEPT Ans-a life-changing event, such as marriage, divorce, or childbirth. Which is the primary purpose of Health Reimbursement Accounts (HRAs)? Ans-To assist covered employees with the payment of medical expenses on a high deductible plan funded through pre-tax contributions. All of the following are characteristics of variable whole life EXCEPT Ans-there is no guaranteed minimum death benefit. When should a buy-sell...
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NYS Life, accident, and health insurance Exam questions with verified answers
Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-year mortgage in the event of the insured's death? Ans-30-year decreasing term. How many days notice does the ACA require insurers to give before rescinding coverage? Ans-30 A signed good health statement may be requested by a life producer at the time of Ans-Policy Delivery Carol purchases a whole life policy that provides a choice of dividend options. This policy is required to include...
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Accident and health exam
Accident and health exam Question and answer
erickagrullon
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Life Health and Accident Insurance Exam and Notes Questions and Answers
When completing the application, the agent would be expected to do all of the following EXCEPT? Ans- Set the final rates for the new policy If after completing the application the agent finds that a question was missed. The agent should? Ans- Schedule another appointment with the applicant to properly complete the application All of the following must sign the application EXCEPT? Ans- The underwriter or beneifciary If the agent collects the initial premium with the application and co...
Axpert
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PSI life, accident, and health Exam Questions with correct Verified Answers latest 2023/2024
;How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - ANSWER-2 years 2;What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums paid up to the current point B. a provision that allows the insured to cancel the policy in the first two years and have premiums refunded C. an increasing amount of term insurance that e...
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