TEXAS LIFE HEALTH INSURANCE FINAL EXAMS
2024-2024 LATEST (3 VERSIONS) EACH VERSION
CONTAINS 150 QUESTIONS AND CORRECT VERIFIED
ANSWERS/ TEXAS LIFE HEALTH INSURANCE REAL
EXAM QUESTIONS AND ANSWERS (NEW!!)
VERSION 1
Under the Texas code, the MAXIMUM for which a spouse may be insured in a
company group life program with a $50,000 death benefit is: - ANSWER-$25,000
If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the application for life insurance, the company will most likely - ANSWER-pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age
On August 6, D submitted an application for a $50,000 Life Insurance policy and did not pay the initial premium. On August 18, D went to his doctor complaining of chest pains and some tests were given by the doctor. The life policy was delivered by the producer on August 20 and D explains what had recently taken place with the doctor. What action should the producer then take? - ANSWER- collect initial premium along with a signed health statement
B has a $100,000 Accidental Death and Dismemberment policy that pays triple indemnity for common carrier death. If B is killed from an accident on a commercial flight, what will the policy pay B's beneficiary?
$300,000
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In Texas, a domestic insurance company is defined as a company that - ANSWER- is incorporated and formed in Texas
B is a teacher who was injured in a car accident and cannot work. She is now receiving monthly benefits as a result of this accident. Which type of policy does B have?Disability Income
Which of these statements accurately describes the Waiver of Premium provision in an Accident and Health policy? - ANSWER-*Premiums are waived after the insured has been totally disabled for a specified time period
(The Waiver of Premium provision waives the payment of premiums after the insured has been totally disabled for a specified period of time.)
The provision in a health insurance policy that suspends premiums being paid to
the insurer while the insured is disabled is called the: - ANSWER-Waiver of
Premium
P and Q are married and have three children. P is the primary beneficiary on Q's Accidental Death and Dismemberment (AD&D) policy and Q's sister R is the contingent beneficiary. P, Q, and R are involved in a car accident and Q and R are killed instantly. The Accidental Death benefits will be paid to: - ANSWER-P only
All of the following provisions must be included in life insurance policies EXCEPT - ANSWER-All of the following provisions must be included in life insurance policies EXCEPT
Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 2 / 4
- Q is dissatisfied and returns the policy February 13. How will the insurer handle
this situation? - ANSWER-Policy was returned within the free-look period, premium will be fully refunded
Who can purchase a plan through the Marketplace? - ANSWER-Any legal resident except those incarcerated
A major medical policy typically: - ANSWER-provides benefits for reasonable and
necessary medical expenses, subject to policy limits
Which of the following BEST describes a short-term medical expense policy? - ANSWER-Nonrenewable
A Whole Life Insurance Policy endows when the - ANSWER-Cash value equals the death benefit
The insuring clause - ANSWER-States the scope and limits of the coverage
An insurer must provide an insured with claim forms within __ days after receiving notice of a loss. - ANSWER-15
A Family Income Policy is a combination of Whole Life and - ANSWER- Decreasing term insurance
T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will the mother receive? - ANSWER- $0 3 / 4
Which of these statements describe a Modified Endowment Contract (MEC)? - ANSWER-Exceeds the maximum amount of premium that can be paid into a policy and still have it recognized as a life insurance contract
What group term life feature permits an individual to depart from the group and continue to be covered without providing evidence of insurability? - ANSWER- conversion
An insurance company may be judged guilty of false advertising if it - ANSWER- exaggerates its dividends in a newspaper advertisement
A policy of adhesion can only be modified by whom? - ANSWER-the insurance company
Variable Whole Life Insurance can be described as: - ANSWER-both an insurance
and securities product
Which type of contract liquidates an estate through recurrent payments? - ANSWER-annuity
Many small business owners worry how their business would survive financially if
the owner becomes disabled. The policy which BEST addresses this concern is: -
ANSWER-business overhead expense
What is the elimination period of an individual disability policy? - ANSWER-time period a disabled person must wait before benefits are paid
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