a producers secretary who solicits prospects on the telephone

How to take legal action against an insurance company. A. Timeperiod an insured must wait before coverage begins, B. Timeperiod a disabled person must wait before benefits are paid, C. Timeperiod after the policy issue date in which the provisions are stillcontestable, Inan insurance contract, the element that shows each party is giving something ofvalue is called. When does a life insurance policy typically become effective? Whendoes a life insurance policy typically become effective? The promise of a discount in premium as an inducement to purchase insurance is known as, exchanging a new policy for one already in force, with guidelines regarding credit reporting and distribution, The Fair Credit Reporting Act protects consumers, Terminally-ill life insurance policyowners may sell their policy at a discount to a third party. A. Thepolicys elimination period is waived, B. Thetime frame for reinstating a lapsed policy is extended, C. Thepolicys probation period is earlier than the present, D. Thepolicy effective date is earlier than the present, D. The policy effective date is earlier than thepresent, Premiummode is a term used to describe the. An insurance company needs to obtain personal information from a third party concerning an applicant. a producers secretary who solicits prospects on the telephone An insurance company's trademark instead of the company's actual name, Using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy, Field underwriting performed by the producer involves, Completing the application and collecting initial premium. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? (p^1p^2). A. It is health insurance for the elderly. Which of these if NOT considered to be a purpose of an annuity? How often must an insurance producer's license in Maryland be renewed? We weren't able to detect the audio language on your flashcards. a producers secretary who solicits prospects on the telephone Term, Whole, and universal lifeinsurance. Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. What are the levels of coverage as defined by the Affordable Care Act? \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ Producing an inadequate amount of new premium. The exceptions, reductions, and limitations affecting the basic provisions of the policy, Any advertisement that mentions a dollar amount, period of time for which any benefit is payable, cost of policy, policy benefit, or the loss for which the benefit is payable MUST disclose. This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes, The entire insurance contract between the parties, All of the following are elements of an insurance policy EXCEPT. 1. How much does Medicare Part B pay forphysician fees? Whichof the following is Medicare Part B also known as? An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of, An ____ _____ sells, solicits, or negotiates insurance contracts for compensation, All of these activities require an individual to hold a producer's license EXCEPT, Jim recently sold his whole life insurance policy under a viatical settlement contract. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. C.) Unintentionally misrepresented a material fact on the application. Engaged in a fraudulent insurance practices. Financial report from the previous year. a producers secretary who solicits prospects on the telephone It is administrated by the federal government, C. It is funded by federal, state, and local taxes. the daily amount paid for nursing home care, All long-term care policies sold in North Dakota are REQUIRED to pay the SAME daily benefit amount for "at home" care as paid for. As of January 1, 2014, small group health insurance can be rated on the basis of. What happens to the coverage under a children's term rider when that child reaches a certain specified age? 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. Insurable interest can be established sufficiently by sentimental attachment alone, A life insurance policy written on one contract for two people in which it is payable upon the first death is called. A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? Making the policy effective on an earlier date than the present. A doctor who accepts Medicare Assignment agrees to which of the following? \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? The proceeds of this contract could be subject to the claims of. Under a Traditional IRA, Interest earned istaxed. a producers secretary who solicits prospects on the telephone. What is the primary purpose of a rating service company such as A.M. Best? Which of these will typically authorize treatment from a specialist? Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. Julie has a $100,000 30-year mortgage on her new home. 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 family's financial objectives if the income earner were to die or become disabled, Normally at any time during the policy term, Loans obtained by a policyowner against the cash value of a life insurance policy, The solicitation of a non-authorized contact in New Jersey violates. Mikehas inherited his fathers traditional IRA. Reggie purchased a life insurance policy with a face amount of $500,000. James is the insured on a life insurance policy where his age was misstated on the application. What happens to coverage under a children's term rider when that child reaches a certain specified age? 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? licensed producers not appointed by an insurer. 2.1.1 6 Whole life Insurance in Malaysia 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. Which of the following is required for an insurer to conduct business in this state? The policies continue in force with no change. Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. a producer's secretary who solicits prospects on the telephone. How long is the Contestable Period for health insurance policies sold in New Jersey? Who is eligible for insurance under a group policy issued to a labor union? Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. the exceptions, reductions, and limitations affecting the basic provisions of the policy, Any advertisement that mentions a dollar amount, period of time for which any benefit is payable, cost of policy, policy benefit, or the loss for which the benefit s is payable MUST disclose, All of the following is considered a form of advertising EXCEPT. Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: info@nmpf.org Our Future You series provides a range of topical advice and guidance via webinars and podcasts. Which scenario would most life insurance policies exclude coverage for? The time limit for filing claim disputes is addressed in which provision of an accident and health policy? Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. Which of the following is a reinstatement condition? Who is the individual paid on a fee-for-service basis? 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. Which of the following actions by a producer would NOT result in a license suspension or revocation? This situation is called, Written notice of a health insurance claim should be given to the insurer within _____ days after the occurrence of any loss covered by the policy, To conduct insurance business in this State, an insurer must be issued a certificate of authority. Determine whether the discriminant is positive, negative, or zero. She paid the premium on May 15 with the policy indicating the effective date being May 30. Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| PartA Hospital expense coverage provided under Medicare is automatically madeavailable to each of the following EXCEPT, A. A50-year-old individual who has qualified for SSDI in the last 24 months, B. A70-year-old NOT Eligible for Social Security, C. A55-year-old suffering from kidney failure. Who would most likely be coveredunder Workers Compensation? The concept is simple - the insured buys the policy and names Life insurance pays after a persons death to help family members pay for debt, lost income, or funeral costs (Life Insurance 686). When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? Which of the following does Coordination of Benefits allow? How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? Which of the following is the likely result? Find out how you can intelligently organize your Flashcards. D. The face amount and premium will remain constantover the 10-year period. A. Doctormay charge up to a maximum of 15% more than Medicare pays for the service, B. Doctoris not bound by Medicare limitations on charge, C. Doctorcannot charge more than Medicares scheduled coverage, D. Doctor bills the Medicare beneficiary directlyfor services performed, A. Alwaysrequires service in a network, B. Providesa greater choice of providers, C. Alwaysrequires a referral to specialists. by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. A policyowner suffers an injury that renders him incapable of performing one or more important job duties. What is this an example of? The benefit can be offered as a rider at a specific extra cost or may be at no cost, All of the following are included as part of a contract in the entire contract provision EXCEPT the. a producers secretary who solicits prospects on the telephone. Which of the following statements is TRUE? \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. Which of the following is Medicare Part B also known as? Her agent submitted the information to the insurance company on April 6. Maria would like an annuity that provides a guaranteed accumulation or payout. 1. Whatwould be an expense factor in an insurance program? Which of the following must be included in the advertisement? Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to asA)twistingB)subrogationC)a life settlementD) coercion. Hill during her initial calls made to the call center. D. Licensedproducers not appointed by an insurer. The premium for a Modified whole life policy is, How long is the Contestable Period for health insurance policies sold in New Jersey, An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of. visas, binomial trials. Peter Griffith, Funeral Director of Lyndhurst Funeral Home. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? B. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. A Long-Term Care policy may only exclude pre-existing conditions for up to _____ months, The identity of the ____ must be made clear in every health insurance advertisement, _______________ is the authority given to a producer to sell, solicit, or negotiate insurance on behalf of the insurer, Pre-existing conditions may only be excluded from coverage for a maximum of 6 months. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Tara the producer is delivering a specified disease insurance policy to a new policyowner. Which military service exclusion clause would pay upon his death? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). What does the Group Life underwriting risk selection process help protect insurance companies from? Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. d. A covered employee if terminated for grossmisconduct. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ There are several types of whole life insurance that are as follow:- The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. 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.

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