Wisconsin Life, Accident, & Health Exams Prep 2024/2025 Questions with 100% Correct Answers

Wisconsin Life, Accident, & Health Exams Prep 2024/2025 Questions with 100% Correct Answers "Maximum benefits" refers to the a. upper limit of the total lifetime benefits the insurance company will pay b. upper limit percentage of what the insurance company will pay for coinsurance c. upper limits of what the insured will pay in out-of-pocket expenses d. upper limits of what an insurance company will pay for any particular claim - upper limit of the total lifetime benefits the insurance company will pay A common exclusion or limitation on a dental policy is: a. Endodontics b. Tooth extractions c. Fluoride treatments d. X-rays - Endodontics A disability elimination period is best described as a a. time deductible b. dollar deductible c. eligibility period d. probation period - time deductible d. Hospice care - Hospice care A family counseling benefit is typically offered under which of these coverages? a. Skilled nursing care b. Respite care c. Home health care A life insurance policy that is paid annually must contain a grace period of at least _____ days. a. 10 b. 30 c. 31 d. 45 - 31 The grace period for a life insurance policy with an annual premium is usually 31 days. A life insurance policy that is subject to a contract interest rate is referred to as: a. adjustable life b. group life c. term life d. universal life - universal life A life insurance policyowner sells her policy to a third party in a life settlement. Under this transaction, the policyowner: a. must pay income taxes on the full amount received b. receives an amount more than the policy's death benefit c. receives the policy's full death benefit d. receives an amount less than the policy's death benefit - receives an amount less than the policy's death benefit A Medicare Supplement basic benefit is a. the first 3 pints of blood per year b. respite care c. disability income d. term life insurance - the first 3 pints of blood per year A MET third-party administrator may NOT perform which of the following functions? a. Claims processing b. Marketing the plan c. Underwriting the plan d. Insuring the plan - Marketing the plan A non-contributory health insurance plan helps the insurer avoid a. adverse selection b. state compliance c. the underwriting process - adverse selection d. Limited whole life - Universal life A partial surrender is allowed in which of the following life policies? a. Adjustable whole life b. Universal life c. Decreasing term life A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called: a. A self-derived plan b. A multiple-employer plan c. A blanket plan d. A self-funded plan - A self-funded plan A Renewable Term Life Insurance policy can be renewed: a. at a predetermined date or age, regardless of the insured's health b. only if the insured provides evidence of insurability c. anytime at the policyowner's request d. typically with no change in premium - at a predetermined date or age, regardless of the insured's health