All Practice Exam Questions - Life, Accident and Sickness - GA State License with 100% Correct Solutions

All Practice Exam Questions - Life, Accident and Sickness - GA State License with 100% Correct Solutions 100% - Correct Answer ️️ -How much participation does a Noncontributory plan require? constructive delivery - Correct Answer ️️ -The insured hands control of the policy to another person (usually the agent) beneficiary change can be made by doing what? - Correct Answer ️️ -Filing a request with the insurer - Recording Method, or by endorsement Entire Contract Provision - Correct Answer ️️ -The application is part of the policy. Which policy provision states this? Mortality Interest Earnings, and Expenses - Correct Answer ️️ -Life insurance premiums are calculated based on three factors. What are the three factors? 65 (Medicare kicks in) - Correct Answer ️️ -Typically, health insurance policies stipulate that coverage cannot be renewed beyond age? What is the difference between coinsurance and copayment? - Correct Answer ️️ - Coinsurance is a percentage (%)and the Copayment is associated with dollar ($) amount. 60 days - Correct Answer ️️ -A binding receipt (binder) provides coverage from the date of the date of the application and usually lasts for ____ days. Fraud - Correct Answer ️️ -What is the exemption for the Incontestability Provision? Proof of insurability - Correct Answer ️️ -An Annual Renewable Term (ART) policy provides a level face amount with an increasing premium, and is guaranteed renewable annually without? Increased. - Correct Answer ️️ -With guaranteed renewable policy, the policy premiums can be _______________. At the time of the application - Correct Answer ️️ -When does insurable interest need exist with a life and health contract? Single premium or periodic payments - Correct Answer ️️ -What are the two ways that an annuity can be funded? Third party ownership - Correct Answer ️️ -When a person other than the insured applies for a policy, it is referred to as? Government health programs - Correct Answer ️️ -What does Medicare, Medicaid, TRICARE, and Social Security Disability Benefits all have in common? 15 days - Correct Answer ️️ -How many days does the insurer have to provide claim forms from the insurance company? 15, 30, 60 days? Straight Whole Life - Correct Answer ️️ -What is the only life policy with cash accumulation? Straight Whole Life - Correct Answer ️️ -Which is the cheaper policy that has cash accumulation, Straight Whole Life or Term? False - Correct Answer ️️ -Term life policies accumulate cash value? True or False. COBRA - Correct Answer ️️ -What program (ACT) protects individuals and the