NYS Life, accident, and health insurance Exam question with completely solved answers (latest 2024)

Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-year mortgage in the event of the insured's death? - Answer- 30-year decreasing term. How many days notice does the ACA require insurers to give before rescinding coverage? - Answer- 30 A signed good health statement may be requested by a life producer at the time of - Answer- Policy Delivery Carol purchases a whole life policy that provides a choice of dividend options. This policy is required to include a statement that the dividends are - Answer- Not Guaranteeed Tim is confined to a nursing home but doesn't have a terminal illness. Which life insurance rider is designed to help pay for this type of expense? - Answer- Long-term care benefit rider An insured is covered under a group long-term disability policy. Under this type of policy, the definition of disability based on any occupation typically applies - Answer- After two years of disability Sylvia purchased an annuity for $100,000 from the proceeds of an inheritance. No further payments are permitted and the income stream begins in 15 years. This contract is a(n) - Answer- Single premium deferred annuity Which of these is NOT a factor that influences group health insurance underwriting? - Answer- Physical exams of group members What is the grace period required for an individual accident and health insurance policy with monthly premiums? - Answer- 10 days In regards to technology and the ACA, which of the following statements is correct? - Answer- States which operate with an Exchange must offer an internet-based portal