NY Life Flashcards
The identity of who must be made clear in every health insurance advertisement
The superintendent
Which of the following is required for the renewal of an agent insurance license?
Continuing education; 15 hours of continuing education every two years for residence nonresident are not required. Just need to meet their local homes state requirements.
When replacing a life insurance policy and agent must provide the applicant with
A notice regarding replacement that is signed both by the applicant and the producer a copy must be left with the applicant
A life settlement intermediary is
An association which contains a facility that displays offers encounter offers for purchasers or sellers of life settlement contracts 
The amount received for a life insurance policy in a life settlement is less than the death benefit
Life settlement
A policy owner and life settlement provider can have a life settlement negotiated through a
Life settlement broker
How long is the free look period provided in a life insurance policy
10 days is the minimum free look period upon policy delivery
Tim’s individual life insurance policy is just recently lapsed. His policy may be reinstated at any time within how many years.
Three
Which of the following is required for an insurer to conduct biz in NY
Certificate of authority, which can be examined at any time by the superintendent of Insurance
Which of the following is not covered under workers compensation
Medical bills, pain, and suffering, occupation, related, sickness, disability
Pain and suffering
Life insurance replacement can be best to find as
A transaction in which a new life insurance policy is purchased in an existing life. Insurance policy is surrendered.
A flooring insurance company doing business
Is the company that was formed under the laws of another state
What is a company that is owned by its shareholders
A stock insurance company is an insurance company that is owned and controlled by stockholders
Mutual insures are known as participating insures because policyholders participate in receiving dividends and electing the board of directors
Mutual companies are owned by their policyholders who can receive dividends from a mutual insure, which are not subject to taxation because these dividends are considered to be a return of a premium unless these dividends sit and collect interest and interest becomes taxable
Which type of life insurance policy pays the face amount at the end of this specified period the insured is still alive?
Endowment policy provides for the face amount at the end of a specified. If the insured is still alive.
