An indemnity plan Study guides, Class notes & Summaries

OHIO LIFE AND HEALTH PRACTICE EXAM 2024 WITH 100% CORRECT ANSWERS An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? $500 $5,000 $5,400 $5,600 - correct answer $5,000 Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) Loan against the cash value Policy withdrawal Policy Dividend Death Benefit - correct answer Deat...

An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? $500 $5,000 $5,400 $5,600 - correct answer $5,000 Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) Loan against the cash value Policy withdrawal Policy Dividend Death Benefit - correct answer Death benefit An indemnity plan Pays both the insured and healt...

All of the following are functions of an insuring clause EXCEPT a. States the conditions under which the policy will pay b. Outlines the kind of benefits provided c. Primarily describes the free-look period d. Provides the policy's scope and limits of coverage ️ c. Primarily describes the free-look period The policyholder for a group health benefit plan is considered to be the a. Employee b. Employer c. Liaison d. Insurer ️ b. Employer Matt is applying for life insurance and requ...

An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? $500 $5,000 $5,400 $5,600 - correct answer $5,000 Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) Loan against the cash value Policy withdrawal Policy Dividend Death Benefit - correct answer Death benefit An indemnity plan Pays both the insured and health care...

ACA Final Exam questions and answers well elaborated At the end of this course, you must do which of the following? Pass the final course exam with a scored of 70% or higher Print your certificate from this website Apply for your Insurance Adjuster license at the Florida Department of Financial Services website at All of the above All of the above Which of the following is NOT one of the duties of the Department of Financial Services? License adjusters Set rates and writ...

NC LIFE insurance state exam questions and answers 100% pass CREDIT LIFE a special type of coverage written to the life of the debtor and pay off the balance of a loan in the event of the death of the debtor. BUY-SELL AGREEMENTS a legal contract that determines what will be done with a business in the event that an owner dies or becomes disabled. Otherwise known as a business continuation agreement INSURABLE INTEREST to purchase insurance the policy owner must face the possibility of losing mo...

AZ Insurance Exam #1333 (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: a terminally ill policy owner decides to sell his life insurance policy at a discount to help support his family. this sale is called a(n) Answer: viatical settlement Q: the administrator for a corporate pension plan bought an accumulation annuity contract for its 2,000 employees. all 2,000 employees received certifi- cates of participation. what kind of contract is this? A...

OHIO LIFE EXAM WITH 100% CORRECT ANSWERS Which of the following would be sufficient violation to warrant rejection, revocation, or suspension of an insurance agent's license? 1) a moving violation ticket 2) a denied license in another state 3) acting as a fiduciary 4) an unintentional misrepresentation of the terms of a contract - correct answer 2) a denied license in another state What method do insurers use to protect themselves against catastrophic losses? 1) pro rata liability...

Midterm Exam: NR511/ NR 511 (NEW 2024/ 2025 Update) Differential Diagnosis & Primary Care Review| All Topics Covered| Questions and Verified Answers| 100% Correct |Grade A – Chamberlain QUESTION Medicare UESTION Medicare part A covers which of the following services Answer: C. Hospital Ser- vices QUESTION How do Most clients on traditional Medicare cover their out-of-pocket expenses? Answer: Acquiring a secondary insurance plan. QUESTION Which part of M...

OHIO LIFE AND HEALTH PRACTICE EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+/ An insured has a stop-loss limit of $5,000, a deductible of $500, and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured have to pay? $500 $5,000 $5,400 $5,600 - -$5,000 Which of these is NOT subject to income taxation under Modified Endowment Contract (MEC) Loan against the cash value Policy withdrawal Policy Dividend Death Benefit - -Death benefit An indemnity p...