Final Exam Life & Health Insurance Texas- 100% Top rated solutions

A Variable insurance policy: -guarantees a minimum rate of return -does not allow the policyowner to assume the investment risk -does not guarantee a return on its investment accounts -does not guarantee an assignment provision -does not guarantee a return on its investment accounts The individual most likely to buy a Medicare Supplement policy would be a(n) -unemployed 64-year old female -62-year old male covered by Medicaid -68-year old male covered by Medicare -uninsured 60-year old male -68-year old male covered by Medicare Available to those on Medicare Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:03 / 0:15 Full screen T owns an Accident & Health policy and notifies her insurance company that she has chosen a less hazardous occupation. Under the Change of Occupation provision, which of the following actions may her insurance company take? -Allow her to take a tax deduction on unearned premiums -Increase her policy's coverage amount -Decrease her policy's coverage amount -Nothing -Increase her policy's coverage amount Change of occupation provision in an A&H Policy, if insured notifies the insurance company a less hazardous occupation, the insurance company may increase the policy’s coverage The Consideration clause in a life insurance policy indicates that a policyowner's consideration consists of a completed application and -the initial premium -agreeing to a physical examination -delivery of policy -disclosure of any medical conditions -the initial premium The consideration clause states that the policyowner's consideration consists of a completed application and the first initial payment premium. An individual Disability Income insurance applicant may be required to submit all the following information, except: -Medical History -Gross Income -Occupation -Spouse Occupation -Spouse Occupation The Consideration clause in a life insurance contract contains what pertinent information? -Summary of Benefits -Offer and Acceptance -Entire Contract -Amount of premium payments and when they are due -Amount of premium payments and when they are due The consideration clause in a life insurance policy specifies the amount and frequency of premium payments that the policyowners must take to keep the insurance in force. Who is liable when an insured suffers a loss on a policy sold by an agent through an