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MICHIGAN LIFE AND HEALTH FINAL TEST EXAM AND
PRACTICE EXAM QUESTIONS 2025 CURRENTLY
TESTING COMPLETE EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+ / NEWEST EXAM
VERSION!!!
What amount will be paid under a policy where the insured misstated his/her age? - Answer-an amount the premium would have purchased at the correct age
the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days - Answer-30 days
which of these is considered to be a Living benefit option in a life insurance policy - Answer-Accelerated death benefit
loans obtained by a policy owner against the cash value of a life insurance policy - Answer-would not be treated as taxable income
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A long term care policy typically provides all of the following levels of care EXCEPT - Answer-acute care
the elimination period under a hospital indemnity plan is - Answer-the specific # of days an insured must wait before becoming eligible to receive benefits for each hospitalization
what is an insurance policy's grace period? - Answer- Period of time after the premium is due but the policy remains in force
How do interest earnings accumulate in a deferred annuity
- Answer-On a tax-deferred basis
a licensee who is required to take continuing education Must include how many ethics coursework hours - Answer-3
the automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value the amount of - Answer-Past due premiums that have not been paid by the end of the grace period 2 / 4
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health insurance involves two perils, accident and ______
- Answer-sickness
Who is responsible for assembling the policy forms for insureds - Answer-Insurance carriers
a securities license is required for a life insurance producer to sell - Answer-variable life insurance
Which of the following is NOT an illegal inducement - Answer-giving the insured an article of merchandise printed with the producers name costing 5$
Which of the following is NOT a federal requirement of a qualified plan? - Answer-employee must be able to make unlimited contributions
Which dividend option would an insurer invest the policy owner's money and add any interest earnings as the dividends accrue? - Answer-Accumulation at interest option
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a health insurance policy will typically cover - Answer- preventative health services
a life insurance policy owner was injured in a car accident which results in a total and permanent disability. which rider would pay a monthly amount because of this disability? - Answer-Disability income rider
in addition to the actual policy, an entire contract includes which of the following? - Answer-the application
field underwriting preformed by the producer involves - Answer-completing the application and collecting initial premium
Kathy pays a monthly premium on her health insurance policy. How long is her grace period? - Answer-10 days
Pierre is covered by his employer's group major medical plan. His employer pays for 75% of the premium and he pays for 25%. How much would a $10,000 benefit be taxable as income under this plan? - Answer-0$
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