Final Exam Life & Health Insurance Texas with Complete Questions and Answers 100% Correct

Final Exam Life & Health Insurance Texas with Complete Questions and Answers 100% CorrectFinal Exam Life & Health Insurance Texas with Complete Questions and Answers 100% CorrectFinal Exam Life & Health Insurance Texas with Complete Questions and Answers 100% CorrectFinal Exam Life & Health Insurance Texas with Complete Questions and Answers 100% CorrectA Variable insurance policy: -guarantees a minimum rate of return -does not allow the policyowner to assume the investment risk -does not guarantee a return on its investment accounts -does not guarantee an assignment provision - ANSWER--does not guarantee a return on its investment accounts The individual most likely to buy a Medicare Supplement policy would be a(n) -unemployed 64-year old female -62-year old male covered by Medicaid -68-year old male covered by Medicare -uninsured 60-year old male - ANSWER--68-year old male covered by Medicare Available to those on Medicare T owns an Accident & Health policy and notifies her insurance company that she has chosen a less hazardous occupation. Under the Change of Occupation provision, which of the following actions may her insurance company take? -Allow her to take a tax deduction on unearned premiums -Increase her policy's coverage amount -Decrease her policy's coverage amount -Nothing - ANSWER--Increase her policy's coverage amount Change of occupation provision in an A&H Policy, if insured notifies the insurance company a less hazardous occupation, the insurance company may increase the policy's coverage The Consideration clause in a life insurance policy indicates that a policyowner's consideration consists of a completed application and -the initial premium -agreeing to a physical examination -delivery of policy -disclosure of any medical conditions - ANSWER--the initial premium The consideration clause states that the policyowner's consideration consists of a completed application and the first initial payment premium.