NJ Life and Health XCEL questions
(Post course exam)
Justin is receiving disability income benefits from a group policy paid for by his employer. How are these
benefits treated? - Answer-Taxable Income
Which of these is not a non forfeiture option - Answer-Reduction of Premium
What life insurance is subject to interest rates - Answer-Universal Life
What decision cant an HSA owner make - Answer-The amount contributed by the employer
How long is a contestable period of health insurance policies sold in NJ - Answer-2 years
What must be included on a Billboard poster selling annuities - Answer-Name of Agent
How long must replacement forms must be kept - Answer-5 years
Type of option where the policy owner defers his current receipt of income tax and has it paid at a later
date, when they are in a lower tax bracket - Answer-deferred compensation option
What is not a core benefit of medicare supplement plan A - Answer-Deductible payments for the first 60
days of hospitalization under medical hospitalization insurance
, How many days are needed for notice to extend coverage - Answer-30
If Mark continues to work after 65 and is covered through employers group plan what does that mean
for medicare - Answer-medicare is a secondary payer
where are policy benefits found - Answer-declerations
what cannot be used by an underwriter to when determining whether or not to accept risk - Answer-
National Association of Insurance Underwriters
elimination period is disability is what? - Answer-Time that a person must wait before benefits are paid
When determining whether a health condition applies, how long can the gap be between the previous
health insurance - Answer-63 days
What cannot be done by an insurance company if the policy contains a guaranteed renewable premium
benefit - Answer-increase premiums on an individual basis
why is there a coordination of benefits provision in a group accident health plan - Answer-avoid
overpaying
What is it called when a person uses misrepresentation to induce an insured person to terminate an
existing policy and purchase a new policy - Answer-Twisting
Free look replacement policy lasts - Answer-30 days
Premium Mode describes - Answer-frequency of payment
(Post course exam)
Justin is receiving disability income benefits from a group policy paid for by his employer. How are these
benefits treated? - Answer-Taxable Income
Which of these is not a non forfeiture option - Answer-Reduction of Premium
What life insurance is subject to interest rates - Answer-Universal Life
What decision cant an HSA owner make - Answer-The amount contributed by the employer
How long is a contestable period of health insurance policies sold in NJ - Answer-2 years
What must be included on a Billboard poster selling annuities - Answer-Name of Agent
How long must replacement forms must be kept - Answer-5 years
Type of option where the policy owner defers his current receipt of income tax and has it paid at a later
date, when they are in a lower tax bracket - Answer-deferred compensation option
What is not a core benefit of medicare supplement plan A - Answer-Deductible payments for the first 60
days of hospitalization under medical hospitalization insurance
, How many days are needed for notice to extend coverage - Answer-30
If Mark continues to work after 65 and is covered through employers group plan what does that mean
for medicare - Answer-medicare is a secondary payer
where are policy benefits found - Answer-declerations
what cannot be used by an underwriter to when determining whether or not to accept risk - Answer-
National Association of Insurance Underwriters
elimination period is disability is what? - Answer-Time that a person must wait before benefits are paid
When determining whether a health condition applies, how long can the gap be between the previous
health insurance - Answer-63 days
What cannot be done by an insurance company if the policy contains a guaranteed renewable premium
benefit - Answer-increase premiums on an individual basis
why is there a coordination of benefits provision in a group accident health plan - Answer-avoid
overpaying
What is it called when a person uses misrepresentation to induce an insured person to terminate an
existing policy and purchase a new policy - Answer-Twisting
Free look replacement policy lasts - Answer-30 days
Premium Mode describes - Answer-frequency of payment
