Alabama State Life Insurance Exam Questions With
Correct Solutions.
if lousie allows her whole life policy to lapse which nonforfeiture option shoild
she elect to obtain the most life insurance protection?
Extended term option
If administrative action is taken against you, or you are criminally prosecuted in
another jurisdiction, you have how long to submit a notice to the Alabama
commissioner?
30 days
How can 'key employee' disability income insurance purchased by business be
used by the business
Both: temporary replace the key employee and as a salary continuation for the disabled
key employee
In health maintenance organizations (HMO's) the use of a primary care physician
is common as part of
An out of network provider
Under the typical coordination of benefits clause in group health insurance how
is the primary coverage determined
The employee plan is primary and the other may be excess
The entire contract provision stipulates
The entire contract includes the application
A man applied for long term care policy. Three months earlier he was diagnosed
with diabetes, can the LTC policy exclude future health problems linked with
diabetes?
Yes, for 6 months
The 'elimination period' refers to
The time period after a disability starts and before the insured may begin receiving
disability income benefits
The basic purpose for the coinsurance provision in a major medical policy is to
Limit over utilization of the policy benefits
Which rider can decrease the amount of the policy death benefit if utilized
Automatic premium loan rider
The settlement option under which the principal never decreases unless the
beneficiary makes withdrawals is the
The interest only option
If you surrender your policy early or simply stop paying premiums you still own
the equity you have built. You can choose to:
Get a check for the remaining cash value
What describes the aviation exclusion?
It limits or excludes coverage for when the insured is participating in only certain kinds
of air travel
Under which circumstances will the payor rider waive the premiums and allow a
life insurance policy to remain in force?
Correct Solutions.
if lousie allows her whole life policy to lapse which nonforfeiture option shoild
she elect to obtain the most life insurance protection?
Extended term option
If administrative action is taken against you, or you are criminally prosecuted in
another jurisdiction, you have how long to submit a notice to the Alabama
commissioner?
30 days
How can 'key employee' disability income insurance purchased by business be
used by the business
Both: temporary replace the key employee and as a salary continuation for the disabled
key employee
In health maintenance organizations (HMO's) the use of a primary care physician
is common as part of
An out of network provider
Under the typical coordination of benefits clause in group health insurance how
is the primary coverage determined
The employee plan is primary and the other may be excess
The entire contract provision stipulates
The entire contract includes the application
A man applied for long term care policy. Three months earlier he was diagnosed
with diabetes, can the LTC policy exclude future health problems linked with
diabetes?
Yes, for 6 months
The 'elimination period' refers to
The time period after a disability starts and before the insured may begin receiving
disability income benefits
The basic purpose for the coinsurance provision in a major medical policy is to
Limit over utilization of the policy benefits
Which rider can decrease the amount of the policy death benefit if utilized
Automatic premium loan rider
The settlement option under which the principal never decreases unless the
beneficiary makes withdrawals is the
The interest only option
If you surrender your policy early or simply stop paying premiums you still own
the equity you have built. You can choose to:
Get a check for the remaining cash value
What describes the aviation exclusion?
It limits or excludes coverage for when the insured is participating in only certain kinds
of air travel
Under which circumstances will the payor rider waive the premiums and allow a
life insurance policy to remain in force?
