Life, Accident and Health Insurance State Exam- OH Questions with Correct Answers 100% Verified 2023/2024 A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? - Correct Answer preferred Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has - Correct Answer better than average mortality The waiver of premium does NOT include which provision? - Correct Answer Al future premiums are waived if the insured recovers from the disability An advertisement for an insurance product may contain - Correct Answer the insurer's name A medicare supplement plan can be canceled by the insurer - Correct Answer for nonpayment of premiums The principle of insurable interest, in regards to a life insurance contract, is accurately described in which statement? - Correct Answer Insurable interest can be based on the love and affection of individuals related by blood or law Craig submits a %500 claim for medical expenses. With a past due premium of $100, the insurer pays $400. which of the uniform optional provisions covers this situation? - Correct Answer unpaid premium An example of a health insuring corporation (HIC) specialty care provider is - Correct Answer neurologist an insurance company needs to obtain personal info from a 3rd part concerning an applicant. which law do all insurers and their producers need to comply with? - Correct Answer fair credit reporting act time is covered under a group plan and would like to changed his coverage to an individual policy w the same insurer bc of employment termination. which of these describes the change that will take place? - Correct Answer conversion an agents appt has been terminated by insurer. the insurer must then notify the superintendent within how many days of the termination? - Correct Answer 30 the suicide clause of a life insurance policy states that if an insured commits suicide w in a stated period from the policy inception, the insurer will only be liable for a return of prisms paid - Correct Answer minus indebtedness and without interest 1 / 2
which of the following is considered to be an alternative to a life settlement? - Correct Answer accelerated death benefit rider if the annuitant dies before the annuity start date, - Correct Answer the premiums paid plus interest earned will be given to the beneficiary a life insurance policy that has premiums fully paid up within a stated time period is called - Correct Answer limited payment insurance shopping for annuity that guarantees he cannot outlive the benefits. which of these benefit options would he choose - Correct Answer guaranteed lifetime withdrawal benefit what is medicare part b known as - Correct Answer supplementary medical insurance field underwriting performed by the producer involves - Correct Answer completing the application and collecting initial premium a life insurance policy which contains cash values that vary according to its investment performance of stocks is called - Correct Answer variable whole life a life insurance policy owner was injured in an automobile accident which results in total and permanent disability. which rider would pay a monthly amount bc of this disability? - Correct Answer disability income rider pierre is covered by his employers group major medical plan. his employer pays for 75% of the premium and he pays for 25%. how much would a 10000 benefit be taxable as income under this plan - Correct Answer 0 what is not an element of a valid contract - Correct Answer countersignature a health insurance policy will typically cover - Correct Answer preventative health services which settlement option involves having the proceeds remain with the insurer and earnings paid on a monthly basis to the beneficiary? - Correct Answer interest only all of the following are qualifications for establishing a health savings act (HSA) except - Correct Answer enrolled in a health plan with a prescription drug benefit legal purpose is a term used in contract law meaning - Correct Answer there must be legal reasons for entering into the contract
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