LA Life, Health & Accident Insurance Series 103
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Terms in this set (89)
Under which situation must insurable When a third-party applicant names themselves
interest exist between the applicant beneficiary.
and insured at the time of
application?
Which of the following is true about The face amount reaches zero at policy expiration.
a decreasing term life policy?
Which of the following occurs The underwriting process begins
immediately after the application is
submitted and the initial premium
paid?
For an individual long-term care Age
policy there is an annual dollar limit
for tax deductions that is based on
which of the following?
All of the following are TRUE The incomplete application can be accepted with
regarding incomplete applications the missing information added later.
EXCEPT
, Which of the following is exempted Fraudulent misstatements
from the incontestability provision in
insurance policies?
All of the following statements Any chronic health condition that presents
define preexisting conditions EXCEPT symptoms and which was unknown at the time of
application.
At which point are contractual death At the time the policy is purchased by the owner of
benefit settlement options the policy
determined and by whom?
All of the following are tax qualified Section 529 plan
retirement plans EXCEPT
In which of the following does a Flexible Spending Account (FSA)
covered employee agree to a
reduction in compensation so the
amount can be used to cover
medical expenses?
A consumer report used to determine Medical underwriting exam.
eligibility for insurance may include
all of the following EXCEPT
Which policy provision permits the Free look
policyowner to take a specified
number of days to examine the
contract, and allows for cancellation
and a full refund if the policyowner
rejects the terms or costs?
Practice Exam | Questions and Answers | already
graded A+
Save
Terms in this set (89)
Under which situation must insurable When a third-party applicant names themselves
interest exist between the applicant beneficiary.
and insured at the time of
application?
Which of the following is true about The face amount reaches zero at policy expiration.
a decreasing term life policy?
Which of the following occurs The underwriting process begins
immediately after the application is
submitted and the initial premium
paid?
For an individual long-term care Age
policy there is an annual dollar limit
for tax deductions that is based on
which of the following?
All of the following are TRUE The incomplete application can be accepted with
regarding incomplete applications the missing information added later.
EXCEPT
, Which of the following is exempted Fraudulent misstatements
from the incontestability provision in
insurance policies?
All of the following statements Any chronic health condition that presents
define preexisting conditions EXCEPT symptoms and which was unknown at the time of
application.
At which point are contractual death At the time the policy is purchased by the owner of
benefit settlement options the policy
determined and by whom?
All of the following are tax qualified Section 529 plan
retirement plans EXCEPT
In which of the following does a Flexible Spending Account (FSA)
covered employee agree to a
reduction in compensation so the
amount can be used to cover
medical expenses?
A consumer report used to determine Medical underwriting exam.
eligibility for insurance may include
all of the following EXCEPT
Which policy provision permits the Free look
policyowner to take a specified
number of days to examine the
contract, and allows for cancellation
and a full refund if the policyowner
rejects the terms or costs?
