Missouri Life and Health Exam Questions and Answers(A+ Solution guide)

In a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights - Answer insuring clause under which circumstance MUST a health insurer have an expedited grievance review procedure? - Answer when the enrollee's life or health is jeapordized The Consideration clause in a life insurance contract contains what pertinent information? - Answer amount of premium payments and when they are due Long Term Care policies will usually pay for eligible benefits using which of the following methods? a) delayed b) fee for service c) expense incurred d) respite - Answer Expense incurred T is receiving $3,000/month from a Disability Income policy in which T's employer had paid the premiums. How are the $3,000 benefit payments taxable? - Answer Benefits are taxable to T A statement made by an insured in an insurance application that must be true to the best of one's knowledge and which becomes a part of the contract is known as - Answer a representation Which long term care insurance statement is true? - Answer Pre-existing conditions must be covered after the coverage has been in force for six months Pre-existing conditions are those for which medical advice or treatment was recommended by or received from a health provider within 6 months preceding the effective date of an individual long-term care of the following is NOT allowed in regards to the Medigap (Medicare Supplement) policy? - Answer Issuing an additional Medigap policy to ensure no out-of-pocket exposure for the insured Jasmine is a salaried employee of an insurance company. Which of the following duties would require her to be licensed as an insurance producer? a) adjusting claims b) underwriting insurance applications c) administrative assistant to the VP of Sales d) soliciting insurance policies - Answer Soliciting insurance policies