#8 LAWS AND RULES PERTINENT TO INSURANCE EXAM
QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS GRADED A++
Free Look Period or Right To Examine provision
After purchasing an individual health insurance contract, Pennsylvania policy owners have 10 days from
the date of receiving the policy to return it for a full refund for any reason.
Prosthodontics
The branch of dentistry concerned with the design, manuacture and fitting of artificial replacements for
teeth and other parts of the mouth.
Time Payment of Claims Provision
Requires the claim be paid immediately, legal action against the insurer for failure to pay timely cannot
commence until 60 days after proof of loss is furnished.
Dental Treatment Expenses
Are required to repair an injury that would normally be covered under a hospital or medical expense
policy.
In Pennsylvania, the definition of total disability changes from one's "own occupation" to "any
occupation" by reason of one's education, training and experience after what period of time?
After 24 months
A Pennsylvania temporary producer license may be issued for a period to exceed
, 180 Days
What is the difference between a long-term care partnership plan and a non partnership plan?
Asset Protection
Pennsylvania, an employee must request spousal coverage under a group sponsored accident and
health plan within______days of marriage.
60 Days
Pennsylvania, a Specified disease accident and health plan must provide a minimum benefit in the
amount of______?
$5000
An Accelerated Death Benefit in Pennsylvania must be at least what percentage of the total death
benefit?
In Pennsylvania, payment on an Accelerated Death Benefit may not be less than 25% of the total benefit.
Viatical Settlement Brokers send packets of information which normally include:
Existing policy terms, payout, premium payments requirements, prognosis of viator (policyowner),
chances of viator living longer than expected, and any special payout terms.
In Pennsylvania, no legal action may be taken against an insurer for failure to honor a valid claim after
the expiration of how many years from the time proof of lost is furnished?
There is a waiting period of 60 days to file a lawsuit after a claim for loss has been filed by the insured.
No lawsuit may be filed after three years has passed from when the claim was submitted.
When soliciting insurance, a producer CANNOT
QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS GRADED A++
Free Look Period or Right To Examine provision
After purchasing an individual health insurance contract, Pennsylvania policy owners have 10 days from
the date of receiving the policy to return it for a full refund for any reason.
Prosthodontics
The branch of dentistry concerned with the design, manuacture and fitting of artificial replacements for
teeth and other parts of the mouth.
Time Payment of Claims Provision
Requires the claim be paid immediately, legal action against the insurer for failure to pay timely cannot
commence until 60 days after proof of loss is furnished.
Dental Treatment Expenses
Are required to repair an injury that would normally be covered under a hospital or medical expense
policy.
In Pennsylvania, the definition of total disability changes from one's "own occupation" to "any
occupation" by reason of one's education, training and experience after what period of time?
After 24 months
A Pennsylvania temporary producer license may be issued for a period to exceed
, 180 Days
What is the difference between a long-term care partnership plan and a non partnership plan?
Asset Protection
Pennsylvania, an employee must request spousal coverage under a group sponsored accident and
health plan within______days of marriage.
60 Days
Pennsylvania, a Specified disease accident and health plan must provide a minimum benefit in the
amount of______?
$5000
An Accelerated Death Benefit in Pennsylvania must be at least what percentage of the total death
benefit?
In Pennsylvania, payment on an Accelerated Death Benefit may not be less than 25% of the total benefit.
Viatical Settlement Brokers send packets of information which normally include:
Existing policy terms, payout, premium payments requirements, prognosis of viator (policyowner),
chances of viator living longer than expected, and any special payout terms.
In Pennsylvania, no legal action may be taken against an insurer for failure to honor a valid claim after
the expiration of how many years from the time proof of lost is furnished?
There is a waiting period of 60 days to file a lawsuit after a claim for loss has been filed by the insured.
No lawsuit may be filed after three years has passed from when the claim was submitted.
When soliciting insurance, a producer CANNOT
