An insurer would be committing unfair discrimination if coverage was denied based
upon
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Martial Status
,If an employee contributes 50% towards the disability plan premium provided by an
employer, what would be the considered the taxable income of a $1000 monthly
disability benefit?
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$500
A type of group that has a constitution and bylaws and has been organized for the
purpose other than obtaining insurance is called an
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Association or Labor group
What is the purpose for having an accelerated death benefit on a life insurance
policy?
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It allows for cash advances to be paid against the death benefit if the
insured becomes terminally ill
How many months can a life insurance policy normally be backdated from the date of
application?
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, 6 months
How are premiums paid by the insured for personally owned disability income
insurance treated for tax purposes?
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Not tax deductible
A pharmacy benefit covers prescription drugs derived from a list called a
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Drug Formality
Which approach predicts a person's potential and determines how much of that
amount be devoted to dependents?
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Human Life Value Approach
A group disability income plan that pays tax free benefits to covered employee is
considered
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, Full Contributory
A nonparticipating policy will__
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not pay dividends
The two major actions required for a policyholder to comply with the reinstatement
clause are
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provide evidence of insurability, pay past due premiums
Tim is covered under a group plan and would like to change is group coverage to an
individual policy with the name insurer because of employment termination. Which of
these describes the change that will take place?
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Conversion
XYZ insurance company received satisfactory proof of loss for a claim. If XYZ does
not pay the claim within 60 days of receipt, the insurer must pay simple interest of __
upon
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Martial Status
,If an employee contributes 50% towards the disability plan premium provided by an
employer, what would be the considered the taxable income of a $1000 monthly
disability benefit?
Give this one a try later!
$500
A type of group that has a constitution and bylaws and has been organized for the
purpose other than obtaining insurance is called an
Give this one a try later!
Association or Labor group
What is the purpose for having an accelerated death benefit on a life insurance
policy?
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It allows for cash advances to be paid against the death benefit if the
insured becomes terminally ill
How many months can a life insurance policy normally be backdated from the date of
application?
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, 6 months
How are premiums paid by the insured for personally owned disability income
insurance treated for tax purposes?
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Not tax deductible
A pharmacy benefit covers prescription drugs derived from a list called a
Give this one a try later!
Drug Formality
Which approach predicts a person's potential and determines how much of that
amount be devoted to dependents?
Give this one a try later!
Human Life Value Approach
A group disability income plan that pays tax free benefits to covered employee is
considered
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, Full Contributory
A nonparticipating policy will__
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not pay dividends
The two major actions required for a policyholder to comply with the reinstatement
clause are
Give this one a try later!
provide evidence of insurability, pay past due premiums
Tim is covered under a group plan and would like to change is group coverage to an
individual policy with the name insurer because of employment termination. Which of
these describes the change that will take place?
Give this one a try later!
Conversion
XYZ insurance company received satisfactory proof of loss for a claim. If XYZ does
not pay the claim within 60 days of receipt, the insurer must pay simple interest of __
