Life and Health 3 Flashcards
The Health Insurance Portability and Accountability Act (HIPPA) ensure that qualified individuals who change jobs will have access to group health insurance with their new employer without:
a. having to satisfy a new preexisting condition period
b. having any increase in premium costs
c. having to meet a new decutible
d. any change in the level of benefits they receive
A
What pays during the waiting period for govt benefits when the insured’s income is terminated by illness, sickness, or accident?
a. immediate payment rider
b. social insurance supplement
c. supplemental compensation rider
d. deferred compensation insure ce
C
when underwriting group life insurance, the underwriter
a. typically evaluate the group as a whole
b. requires every group member to be covered
c. evaluates the groups on an individual basis
d. requires medical inf from each individual
A
the health New York program is designed to
a. provide life insurance to large group employers
b. provide affordable health insurance coverage to small employers
c. generate revenues for bus govt
d. promote good nutrition in nys schools
B
a fiduciary duty involves which or the following?
a. proper handling of all client premiums
b. underwriting all applications
c. approving or disapproving the policy
d. setting premium amounts
a
when using the needs approach to determine the amount of life insurance needed, it is necessary to determine all of the following EXCEPT
a, projected lifetime earning in the stock market, including dividends and growth account
b. cumulative earning power of the income earner along with other sources of passive income
c. family’s financial obligations in the event of the death or disability of the income earner
d. medical, educational, and financial requirements of the serving family in the event of the death or disability of the income earner.
a
an agent‘s underwriting duties include which of the following?
a. setting premium amouts
b. completing all applications and collecting initial premiums
c. declining or accepting an application
d. issuing the policy
b
when would an attending physican’s statement be appropriate for life insurance purpose?
a. as a matter of routine when the applicant signs the life insurance application
b. at the request of the insurer without knowledge or approval of the applicant
c. at the request of the insurance applicant to be submitted with the life insurance application
d. at the request of the insurer when it could affect the underwriting decisions but with the consent of the application
d
under a multiple protection policy, the policy that pays on the health of the last person is called
a. a universal life policy
b. a survivorship life policy
c. a joint life policy
d, an annuity life policy
b
which of the following action is NOT considered the Business of Life Settlements?
a. soliciting a life settlement contract from out of state
b. negotiating a life settlement contract by mail
c. issuing a life settlement contract by mail
d. assigning a life settlement contract as a collateral loan
d
in a hospital indemnity plan, an elimination period refers to the # of days
a. for which the insured can receive benefits for each hospital visit
b. for which the insurance can receive benefits for the terms of the plan
c. an insured must wait before becoming eligible yo receive benefits for the term of the plan
d. an insured must wait before becoming eligible to receive benefits for each hopistal stay
c
the insurced, who is 59 years of age decide to replace a long-term care policy they had for five tears for a new policy, which of the following is true of the insurer?
a. the original insurer will reimburse benefit dollar not used under the original policy period
b. the replacement insurer will impose new probatuiinary period and pre existing condition limitations
c. thereplacement insure will not honor previous exclusion that hav been stratified under the original policy
d. the replacement insurer will waive probationary period pertains to pre existing condition ratified under the original policy
b
in order to ensure that suitability is addressed inanity transactions, new York requires
a. all managers in an insurance company to have adequate training
b. the consumer yo research their own uitabiitykying with an insurer
c. anyone who is making recommendation be adequately trained
d. consumers to shop around before purchasing an annuity
c
under the affordable care act, an insurer may place dollar limits on coverage for
a. laboratory service
b. mental health services
c. maternity and newborn care
d. routine adult dental services
c
all of the following statement apply to the surrender of an annuity contract expect
a. surrender charges will reduce the contract payout amount
b. the right to surrender is available on immediate annuitied
c. owner has the right to surrender the contract during the accusation period
d. surrender charge diminish ove a statduble of yers and will eventually disappear
a
