ALABAMA INSURANCE Study guides, Class notes & Summaries

ALABAMA INSURANCE TEST QUESTIONS & ANSWERS (100% Correct) Which welfare program provides assistance to the needy? - Ans - Medicaid Barbara has the right to change the beneficiary designation on her life insurance policy. Barbara's beneficiary is a(n): - Ans - revocable beneficiary

Bart is injured and provides notice of a health claim to his insurer. He later receives the required claims forms. Within how many days of the loss must Bart file proof of loss with the insurance company? - Answer-90 Which welfare program provides assistance to the needy? - Answer-medicaid Who is considered the individual that retains all rights, values, and options of an insurance policy? - Answer-the policy owner Long Term Care policies normally provide benefits for: - Answer-home hea...

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Insurance - Answer-is the method for spreading the risk of financial loss among others Casualty Insurance - Answer-mainly protect you against legal liability for BI and/or PD you cause to another Personal Line Insurance - Answer-refer to property and casualty insurance for an individual as opposed to a business Commercial Line Insurance - Answer-refer to property and casualty insurance to cover a business Insurance Underwritting - Answer-is the process of classification, rating, and ...

Which welfare program provides assistance to the needy? correct answers Medicaid Barbara has the right to change the beneficiary designation on her life insurance policy. Barbara's beneficiary is a(n): correct answers revocable beneficiary Within how many calendar days must all clean electronic health insurance claims be paid in Alabama? correct answers 30 Which type of term policy allows the policyowner to switch to permanent insurance? correct answers Convertible term What does re...

Loss Sustained Form correct answers Form that covers losses actually sustained during the policy period and discovered no later than one year after policy expiration. Fiduciary Responsibility correct answers The legal duty of a representative to manage property in the interest of the owner. Directors and Officers Liability Insurance correct answers This insurance is designed to pay for damages arising from wrongful acts that do not lead to property damage, bodily injury, advertising injury...

Bart is injured and provides notice of a health claim to his insurer. He later receives the required claims forms. Within how many days of the loss must Bart file proof of loss with the insurance company? correct answers 90 Which welfare program provides assistance to the needy? correct answers medicaid Who is considered the individual that retains all rights, values, and options of an insurance policy? correct answers the policy owner Long Term Care policies normally provide benefits f...

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