Study guides, Class notes & Summaries

According to the time payment of claims provision, the insurer must make the payment immediately after receiving proof of loss except: - if the insured is able to eventually return to work -if the death is suicide or due to a pre existing condition -when the policy is in the incontestability period -for claims involving periodic payments - answer-for claims involving periodic payments Insurers must pay lump sum claims immediately after receiving proof of loss What does coinsurance me...

NJ Accident and Health Producer PRACTICE EXAMS QUESTIONS AND ANSWERS 2024

Life income joint and survivor settlement option guarantees... Income for 2 or more recipents A participating insurance policy may do which of the following:... Pay dividends to the policy owner What is TRUE about the cash surrender nonforfeiture option? Funds exceeding the premiums paid are taxable as ordinary income Participating Insurance policy will... pay dividends to the owner based upon mortality cost, interest earned and cost Which of the following is an example of a producer bei...

NJ Accident and Health Producer PRACTICE EXAMS | Latest 2024/25

NJ Accident and Health Producer Practice Exams Latest Update Graded A+ According to the Time Payment of Claims provision, the insurer must make the payment immediately after receiving proof of loss EXCEPT: - if the insured is able to eventually return to work -if the death is suicide or due to a pre existing condition -when the policy is in the incontestability period -for claims involving periodic payments for claims involving periodic payments INSURERS MUST PAY LUMP SUM CLAIMS I...

NJ Accident and Health Producer Latest Update Graded A+ Life income joint and survivor settlement option guarantees... Income for 2 or more recipents A participating insurance policy may do which of the following:... Pay dividends to the policy owner What is TRUE about the cash surrender nonforfeiture option? Funds exceeding the premiums paid are taxable as ordinary income Participating Insurance policy will... pay dividends to the owner based upon mortality cost, interest earned an...