2/19/25, 6:42 PM PSI - NY Life, Accident and Health Practice Exams | Exams 17-55 | 100% Correct Answers Flashcards | Quizlet
PSI - NY Life, Accident and Health Practice Exams
| Exams 17-55 | 100% Correct Answers
Save
Terms in this set (75)
Which policy provision Free Look
permits the policy owner
to take a specified number
of days to examine the
contract, and allows for
cancellation and a full
refund if the policy owner
rejects the terms or costs?
When will a policy pay on When particular benefits are not listed on a payment
a UCR basis? schedule
Which type of rider long term care rider
reimburses health and
social service expenses
incurred in a convalescent
or nursing home facility?
Which of the following is Fraudulent misstatements
exempted from the
incontestability provision
in insurance policies?
What does first dollar As soon as covered medical expenses are incurred,
coverage mean? the policy begins to pay
https://quizlet.com/1007960943/psi-ny-life-accident-and-health-practice-exams-exams-17-55-100-correct-answers-flash-cards/?new 1/11
, 2/19/25, 6:42 PM PSI - NY Life, Accident and Health Practice Exams | Exams 17-55 | 100% Correct Answers Flashcards | Quizlet
In a long term care contract, the premium is waived
What is the waiver of
after the insured has been confined for a specific
premium provision?
period of time
According to the Time for claims involving periodic payments
Payment of Claims
provision, the insurer must
make the payment
immediately after
receiving proof of loss
EXCEPT
Which is a disadvantage to the actual amount of the annuity benefit cannot be
a flexible premium determined in advance
annuity?
When a policy or a detailed and comprehensive summary of the
certificate containing an accelerated benefit
accelerated benefit
provision is applied for or
delivered, the producer is
responsible for providing
that applicant a summary
of coverage that includes
all of the following
EXCEPT
which one of the following the loan is not taxed while a withdrawal is taxed for
represents an advantage amounts above the contract cost basis
of obtaining a policy loan
versus a withdrawal?
How does a with the non cancelable policy the insurer may
noncancelable policy increase premiums only based on the terms of the
differ from a guaranteed policy
renewable policy?
What does it mean if a Insurer may elect NOT to renew only under the
health policy is conditions specified in the policy
conditionally renewable?
https://quizlet.com/1007960943/psi-ny-life-accident-and-health-practice-exams-exams-17-55-100-correct-answers-flash-cards/?new 2/11
PSI - NY Life, Accident and Health Practice Exams
| Exams 17-55 | 100% Correct Answers
Save
Terms in this set (75)
Which policy provision Free Look
permits the policy owner
to take a specified number
of days to examine the
contract, and allows for
cancellation and a full
refund if the policy owner
rejects the terms or costs?
When will a policy pay on When particular benefits are not listed on a payment
a UCR basis? schedule
Which type of rider long term care rider
reimburses health and
social service expenses
incurred in a convalescent
or nursing home facility?
Which of the following is Fraudulent misstatements
exempted from the
incontestability provision
in insurance policies?
What does first dollar As soon as covered medical expenses are incurred,
coverage mean? the policy begins to pay
https://quizlet.com/1007960943/psi-ny-life-accident-and-health-practice-exams-exams-17-55-100-correct-answers-flash-cards/?new 1/11
, 2/19/25, 6:42 PM PSI - NY Life, Accident and Health Practice Exams | Exams 17-55 | 100% Correct Answers Flashcards | Quizlet
In a long term care contract, the premium is waived
What is the waiver of
after the insured has been confined for a specific
premium provision?
period of time
According to the Time for claims involving periodic payments
Payment of Claims
provision, the insurer must
make the payment
immediately after
receiving proof of loss
EXCEPT
Which is a disadvantage to the actual amount of the annuity benefit cannot be
a flexible premium determined in advance
annuity?
When a policy or a detailed and comprehensive summary of the
certificate containing an accelerated benefit
accelerated benefit
provision is applied for or
delivered, the producer is
responsible for providing
that applicant a summary
of coverage that includes
all of the following
EXCEPT
which one of the following the loan is not taxed while a withdrawal is taxed for
represents an advantage amounts above the contract cost basis
of obtaining a policy loan
versus a withdrawal?
How does a with the non cancelable policy the insurer may
noncancelable policy increase premiums only based on the terms of the
differ from a guaranteed policy
renewable policy?
What does it mean if a Insurer may elect NOT to renew only under the
health policy is conditions specified in the policy
conditionally renewable?
https://quizlet.com/1007960943/psi-ny-life-accident-and-health-practice-exams-exams-17-55-100-correct-answers-flash-cards/?new 2/11
