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Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? Which of the following basics is a producer's fiduciary responsibility? ABC Corporation has a group life insurance policy that covers its employees and their dependent children. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. a producers secretary who solicits prospects on the telephone. A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. D. The face amount and premiumwill remain constant over the 10-year period. {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"Insurance\/Healt Agent Exam","payreferer_url":"\/flashcards\/copy\/insurance-healt-agent-exam--11456962","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. An individual can enroll in a Part C Medicare Advantage Plan at what time? There is protection of proceeds against the insured's and the beneficiary's creditors, Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. The ________ has the right to renew a small employer health plan. An applicant's character and personal habits can be obtained for underwriting purposes from which source? visas, binomial trials. c. Travel accidental insurance premiums. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ A. D. Level for the first 5 years then decreases forthe remainder of the policy. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. what happened to amy bailey happy healthy humble . Afterwards, she deposits the check into her personal account. When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. Claims for a Long-Term Care policy MUST be paid for which of the following conditions? B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. What does the amount of these credits represent? Sonya applied for a health insurance policy on April 1. Pat is insured with a life insurance policy and Karen is his primary beneficiary. Which of the following is CORRECT regarding the death benefit amount. The death benefit paid will be what the premium would have purchased at the correct age. Pierre the producer receives a premium for an individual health insurance policy. Ifan insurer refuses to pay a claim, how many days must the insured wait to takelegal action against a health insurer after submitting written proof of loss? The names of the insurance companies represented by the producer. If an insurer refuses to pay a claim, how many days must the insured wait to take legal action against a health insurer after submitting written proof of loss? Whichof these will have the highest monthly payout upon Annuitization? Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. A. Collectinga premium for insurance that is not provided. At what age can she begin to receive distributions without a tax penalty? Which of these premium payment frequencies is not typically available to a policy owner? B. Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? Which of the following must be included in the advertisement? Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ Proceeds payable under a life insurance contract to a policyowner in anticipation of death or upon the occurrence of specified life-threatening conditions as defined by the policy are best described as: A temporary producer license in Maryland is valid for up to. The company did not retire any bonds or repurchase any of its own common stock during the year. In the event of employment termination, group insurance can be kept if the employee pays the premiums. Producing an inadequate amount of new premium. What will the beneficiary receive if an annuitant dies during the accumulation period? All of these are standard exclusions found in a life insurance policy EXCEPT. In event of acontroversy between the insured and the company, the producer is considered to representthe. Which of the following statements is TRUE about Medicaid? A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. The two plans are fee-for-service and. What amount will be paid under a policy where the insured misstated his/her age? A silver level medical plan is what percent the insurance company pays for the employee and the other percent is what the employee pays out of pocket (Unders Insurance companies look at a number of factors when it comes to setting premiums for a particular company. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. After passing the state Producer licensing exam, application for the license must be made within, How long must an insurance company keep record on life insurance replacement activity, An insurance company that is organized or chartered in a country other than the United States is defined as, Advertisements of insurance in a local newspaper, must be approved by, Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit, Increase the premiums on an individual basis, Continued coverage under COBRA would be provided to a(n), A covered employee is terminated for gross misconduct, In New Jersey, health insurance advertisements are required to contain the, The purpose of a coordination-of-benefits provision in group health accident and health plans is to, If an insured dies during the grace period with no premiums paid, The policy would be payable, minus the premium amount, A 10% excise tax is normally applied to an early withdrawal from an IRA. Which type of life insurance policy is this? This rider is called a(n). The proceeds of this contract could be subject to the claims of, The Food and Drug Administrationapproved prescription drugs for treatment as stated on the drugs labeling. The Healthcare Insurance Exchange offers plans for everyone. To be classified as a small employer, an employer mustNOT have more than__ eligible employees. Which of these is NOT an Unfair Claims Settlement Practice? An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Continued coverage under COBRA would be providedto all of the following EXCEPT: a. C. Careis only covered in a government facility, D. Careis only covered if primary care physician gives a referral, Theopen enrollment period for Medicare part B is, D. Generaltax revenue and user premiums. They are both involved in an automobile accident where Pat dies instantly and Karen dies 5 days later Key Person Disability Insurance pays benefits to the. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. . We weren't able to detect the audio language on your flashcards. If a producer has been engaged in an administrative action by any governmental agency, within how many days following the final deposition must the producer report the action to the Commissioner? Which of these is NOT a characteristic of the Accelerated Death Benefit option? Tim's individual life insurance policy has just recently lapsed. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? The standard grace period for a life insurance policy sold in Maryland is. Bob and Tom start a business. who would be responsible for the prosecution of this crime? The individual is paying premiums that are priced for each year or Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of instability. What kind of insurance provides coverage for one or more necessary or appropriate diagnostic, preventative, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital? Whichtype of injury would NOT be covered under a health insurance policy? The Commissioner issues a subpoena to a producer. Submit to the replacing insurer a list of the policies to be replaced. Which of the following would be the appropriate tax consequence? 1. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? Erica is 35 years old and owns an IRA. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? Intereston death benefits are NOT required to be paid by an insurance company as longas proceeds are paid within __ after the date of the death of the insured. a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. 5511. Which of the following is Medicare Part B also known as? Upon delivery, she may be expected to collected all of the followingEXCEPT a(n), B. Signedimpairment rider acknowledgement, C. Modifiedapplication with a new signature, Oneof the most important considerations when replacing health insurance would bethe. The prescription of a drug for treatments other than what's labeled is known as _____ use, Coverage for newborns under a health plan MUST include coverage for. Collecting a chargefor insurance that is less than the charge applicable to that insurance. To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. Tara the producer is delivering a specified disease insurance policy to a new policyowner. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. In Maryland, a Producer may have his/her license revoked for which of the following acts? C. Remain of their current coverage for 30 months. a producers secretary who solicits prospects on the telephone. Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? A. Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. Which type of disability would be less than total impairment and equal to permanent impairment? In order for the producer's insurance business to continue, the Commissioner may issue to the producer's spouse a, has a mental or physical handicap and remains dependent on the parent, A dependent child may remain on a parent's health insurance plan beyond age 26 if the child, Under a small group health plan, an insurer is required to provide a newly-married employee at least ____ days to add the new spouse to the plan, replacing an insurance policy from one insurer to another based on misrepresentation, legible and brief description of the policy on the first page, Each delivered life insurance policy in Maryland MUST include a, The _____________ of Coverage describes policy features, benefits, exclusions, and riders in a Long-Term Care policy, A person who, for a fee, gives advice or recommendations on benefits provided by an insurance contract is called, Child over the age of 18 years who attends an educational institution and relies on the insured employee for financial support. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? How to take legal action against an insurance company. Premium mode is a term used to describe the, A newborn is required to be covered for _____ days from the moment of birth, A clause that allows an insurer the right to terminate coverage at any anniversary date is called. D. Willfullycollecting a premium that exceeds the amount of the actual premium. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. What is this an example of? 1. May 2020. His policy may be reinstated at any time within _____ years. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? A producer has recently died and leaves behind a spouse. Since each partner contributes an important element to the success of the business, they decide to take life insurance policies out on each other, and name each other as beneficiaries.