MI LIFE PRODUCER EXAM PREP 134 2026 FINAL
PAPER FULL SOLUTIONS GRADED A+
◉ in an employer-sponsored
contributory group
Disability Income Plan, the
employer pays 60% of the
premium and each employee
pays 40% of the premium.
any income benefits paid are
taxed to the employee at. Answer: 60% of the benefit
◉ An indemnity plan. Answer: provides the insured a specific dollar
amount for services
◉ An indemnity plan
limitation that will pay the
dental bills after a small
amount is paid by the
insured is called. Answer: Coinsurance
,◉ Index whole life insurance
contains a securities
component that acts as a(n). Answer: hedge against inflation
◉ In MI, legal action can be
taken against an insurer for
failure to pay HEALTH
insurance claims for a
period not to exceed. Answer: 3 years
◉ in MI, legal action can be
taken against an insurer for
failure to pay LIFE insurance
claims for a period not to
exceed. Answer: 6 years
◉ In order to activate the
reinstatement clause of a
lapsed life insurance policy,
the insured MUST. Answer: provide evidence of insurability to the
insurer
,◉ In order to save on
premiums, a Life Insurance
policy can legally be
backdated up to. Answer: 6 months
◉ An insurance company needs
to obtain personal
information from a third
party concerning an
applicant. Which law do all
insurers and their producers
need to comply with?. Answer: Fair Credit Reporting Act
◉ An insured has a health plan
that pays established
amounts in accordance
with a list of injuries, surgical
procedures, or other losses.
This list is called a. Answer: benefit schedule
◉ an insured has a stop-loss
limit of $5000, a deductible
, of %500, and a 80/20
coinsurance. the insured
incurs $25,000 of covered
losses. How much will the
insured have to pay. Answer: $5,000
◉ An insured individual and the
policy's beneficiary die from
the same accident. The
common disaster provision
states the insurer will
continue as if. Answer: the insured outlived the beneficiary
◉ An insurer, in general
business practice, fails to
promptly provide a
reasonable explanation for
the denial of a claim. This is
considered to be. Answer: an unfair claim settlement practice
◉ In the michigan insurance
code, chapter 45, insurance
PAPER FULL SOLUTIONS GRADED A+
◉ in an employer-sponsored
contributory group
Disability Income Plan, the
employer pays 60% of the
premium and each employee
pays 40% of the premium.
any income benefits paid are
taxed to the employee at. Answer: 60% of the benefit
◉ An indemnity plan. Answer: provides the insured a specific dollar
amount for services
◉ An indemnity plan
limitation that will pay the
dental bills after a small
amount is paid by the
insured is called. Answer: Coinsurance
,◉ Index whole life insurance
contains a securities
component that acts as a(n). Answer: hedge against inflation
◉ In MI, legal action can be
taken against an insurer for
failure to pay HEALTH
insurance claims for a
period not to exceed. Answer: 3 years
◉ in MI, legal action can be
taken against an insurer for
failure to pay LIFE insurance
claims for a period not to
exceed. Answer: 6 years
◉ In order to activate the
reinstatement clause of a
lapsed life insurance policy,
the insured MUST. Answer: provide evidence of insurability to the
insurer
,◉ In order to save on
premiums, a Life Insurance
policy can legally be
backdated up to. Answer: 6 months
◉ An insurance company needs
to obtain personal
information from a third
party concerning an
applicant. Which law do all
insurers and their producers
need to comply with?. Answer: Fair Credit Reporting Act
◉ An insured has a health plan
that pays established
amounts in accordance
with a list of injuries, surgical
procedures, or other losses.
This list is called a. Answer: benefit schedule
◉ an insured has a stop-loss
limit of $5000, a deductible
, of %500, and a 80/20
coinsurance. the insured
incurs $25,000 of covered
losses. How much will the
insured have to pay. Answer: $5,000
◉ An insured individual and the
policy's beneficiary die from
the same accident. The
common disaster provision
states the insurer will
continue as if. Answer: the insured outlived the beneficiary
◉ An insurer, in general
business practice, fails to
promptly provide a
reasonable explanation for
the denial of a claim. This is
considered to be. Answer: an unfair claim settlement practice
◉ In the michigan insurance
code, chapter 45, insurance
