Pre-Final Exam - New York Life, Accident and Health| 150 Questions With Correct Answers!!

What happens when an initial offer is answered with a counteroffer? - ANSWERSInitial offer is void According to the Affordable Care Act (ACA), dependent children may remain on their parent's plan until what age? - ANSWERSAge 26 The premiums paid by an employer for his employee's group life insurance are usually considered to be - ANSWERStax-deductible to the employer A family group accident and health insurance policy must continue coverage for each unmarried child at least until age - ANSWERS19 A life insurance beneficiary died after receiving only six payments under the policy's life income settlement option. What happens with the remaining balance of the death proceeds? - ANSWERSKept by the insurance company When an individual is planning to protect his family with life insurance, one method of doing so is called needs analysis. What exactly does needs analysis involve? - ANSWERSIdentifies the needs of an individual and the individual's dependents A retired couple would like to maximize the income derived from their combined life savings and have it payable until they both die. Which annuity would be their best choice? - ANSWERSJoint and survivor annuity Major medical plans typically exclude coverage for which of the following benefits? - ANSWERSCustodial care Which of the following BEST describes a "partial disability"? - ANSWERSUnable to perform one or more job duties Under an adjustable life insurance policy, which of the following may NOT be changed without further underwriting? - ANSWERSThe person insured An agent's license in New York must be renewed every - ANSWERSTwo years A policyowner pays the first annual premium for a $50,000 life insurance policy and dies one month after the policy effective date. Which of these statements is normally true? - ANSWERSBeneficiary receives $50,0 Pre-Final Exam - New York Life, Accident and Health| 150 Questions With Correct Answers!!