life, accident and health insurance state exam- Ohio 2024 Latest Review

life, accident and health insurance state exam- Ohio 2024 Latest Review A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification? - CORRECT ANSWER-preferred Preferred risk policies with reduced premiums are issued by insurance companies bc the insured has - CORRECT ANSWER-better than average mortality The waiver of premium does NOT include which provision? - CORRECT ANSWER-Al future premiums are waived if the insured recovers from the disability An advertisement for an insurance product may contain - CORRECT ANSWER-the insurer's name A medicare supplement plan can be canceled by the insurer - CORRECT ANSWER-for nonpayment of premiums The principle of insurable interest, in regards to a life insurance contract, is accurately described in which statement? - CORRECT ANSWER-Insurable interest can be based on the love and affection of individuals related by blood or law Craig submits a %500 claim for medical expenses. With a past due premium of $100, the insurer pays $400. which of the uniform optional provisions covers this situation? - CORRECT ANSWER-unpaid premium An example of a health insuring corporation (HIC) specialty care provider is - CORRECT ANSWER-neurologist an insurance company needs to obtain personal info from a 3rd part concerning an applicant. which law do all insurers and their producers need to comply with? - CORRECT ANSWER-fair credit reporting act time is covered under a group plan and would like to changed his coverage to an individual policy w the same insurer bc of employment termination. which of these describes the change that will take place? - CORRECT ANSWER-conversion an agents appt has been terminated by insurer. the insurer must then notify the superintendent within how many days of the termination? - CORRECT ANSWER-30 the suicide clause of a life insurance policy states that if an insured commits suicide w in a stated period from the policy inception, the insurer will only be liable for a return of prisms paid - CORRECT ANSWER-minus indebtedness and without interest which of the following is considered to be an alternative to a life settlement? - CORRECT ANSWER-accelerated death benefit rider if the annuitant dies before the annuity start date, - CORRECT ANSWER-the premiums paid plus interest earned will be given to the beneficiary a life insurance policy that has premiums fully paid up within a stated time period is called - CORRECT ANSWER-limited payment insurance shopping for annuity that guarantees he cannot outlive the benefits. which of these benefit options would he choose - CORRECT ANSWER-guaranteed lifetime withdrawal benefit what is medicare part b known as - CORRECT ANSWER-supplementary medical insurance field underwriting performed by the producer involves - CORRECT ANSWERcompleting the application and collecting initial premium