Contestability Study guides, Class notes & Summaries

The percentage of an individual's Primary Insurance Amount (PIA) determines the benefits paid which of the following programs? - ANSWER-Social Security Disability Income What type of life insurance incorporates flexible premiums and an adjustable death benefit? - ANSWER-Universal Life Which of the following policy provisions prohibits an insurance company from incorporating external documents into an insurance policy? - ANSWER-Entire Contract Which of the following actions may NOT be...

Reciprocal Agreement -ANSWER Two states allowing for non resident license What two brokers dont need a license -ANSWER Surplus and Excess Fine for selling ins without license? -ANSWER $10,000 Who examines foreign and alien insurers? -ANSWER Regulatory authority What is the biennial appointment fee? -ANSWER $40 What is the application fee? -ANSWER $25 What is Section 1034? -ANSWER Authorizes the attorney general to provide civil and criminal punishment to those breaking Section ...

Which of the following statements about the contestability of a life insurance policy is true? - the policy can be contested by the insurer only during the first two years of the contract The Louisiana Life and Health Insurance Guaranty Association was established to protect consumers in the event of an insurer's - Insolvency

TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM PREP Health insurance coverage under COBRA, HIPAA guarantees that the person will - correct answer Have Acces to a guaranteed-issue individual health policy, regardless of health All the following statements about ordinary (or straight) whole life insurance are correct - correct answer The cash value remains level throughout the life of the policy Which activity in NOT an error or omission that makes an agent or producer legally to both the ...

An agent is ready to deliver a policy to an applicant but has not yet received payment. Upon delivery, the agent collects the applicant's premium check, answers any questions the applicant may have, and then leaves. What did he forget to do? -ANSWER Ask her to sign a statement of good health An insured misstated her age on an application for an individual health insurance policy. The insurance company found the mistake after the contestable period had expired. The insurance company will take...

Absolute advantage - ANSWERSWhen a country's output of a product per unit of input is greater than that of any other country. Absolute advantage - ANSWERSWhen a country's output of a product per unit of input is greater than that of any other country. Absolute poverty - ANSWERSWhen a person does not have the income or wealth to fulfil their basic needs. Absolute poverty - ANSWERSWhen a person does not have the income or wealth to fulfil their basic needs. Aggregate Demand (AD) - AN...

Georgia Laws and Rules Exam Questions and Answers 100% Pass J is an agent who recently told a claimant that his rights might be impaired if he does not complete a release form within a specified time. What could this agent be found guilty of? - Correct Answer ️️ -Coercion All agents licensed less than 20 Years are required to complete ___ continuing education hours every two years, - Correct Answer ️️ -24 In Georgia, most life insurance policies have a contestability period of - C...

WebCE (General Insurance & Life Insurance) Exam Questions and Answers | Latest Updated 2023/2024 (Graded). An insurance producer tells a life insurance applicant that he has the authority to waive the medical exam that is normally required by the insurer with every application. The insurer may be required to accept the application without a medical exam due to the producer's: implied authority express authority apparent authority imputed authority - apparent authority All of the followin...

Absolute advantage - ANSWERSWhen a country's output of a product per unit of input is greater than that of any other country. Absolute poverty - ANSWERSWhen a person does not have the income or wealth to fulfil their basic needs. Aggregate Demand (AD) - ANSWERSThe total demand/spending in an economy at a given price level over a given period of time. Made up of consumption, investment, government spending and net external demand. Aggregate Supply (AS) - ANSWERSThe total amount of goods...

Texas Life And Health Insurance Exam With 100% Correct Answers 2023/2024. In Texas, which of these statements regarding the Suicide clause is True? - Correct Answer-An Insurer may not use suicide as a defense against payment after the second year S owns a life insurance policy with cash values that fluctuate according to the underlying investment performance of common stocks. Which of these policies does S own? - Correct Answer-Variable Whole Life The percentage of an individual's Primary...