3/9/26, 7:32 AM PSI Insurance EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | …
PSI Insurance EXAM, MOST TESTED QUESTIONS
AND VERIFIED SOLUTIONS/GET IT 100%
ACCURATE!! 2026!!
Save
Terms in this set (228)
What is it called when a life multiple indemnity
insurance policy pays a multiple of
the coverage amount when certain
types of accidents occur?
Upon the issuance of a conditional 30 days
receipt for a renewal when the
premium is paid AFTER the time
granted by the insurer, what is the
maximum amount of time for
reinstatement of the policy?
Which of the following statements This option provides the highest monthly income.
regarding a pure life annuity payout
option is correct?
Which of the following does not fraudulent misstatements
apply to the time limit on certain
defenses provision in health
insurance policies?
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,3/9/26, 7:32 AM PSI Insurance EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | …
If an individual is insured by both The individual's policy pays first, the spouse's policy
their own health insurance policy pays the remaining up to coverage amount.
and their spouse's policy, which
policy pays first in the event of an
illness?
When can the premiums of an when the taxpayer's unreimbursed medical
individually owned health insurance expenses exceed 7.5% of adjusted gross income
policy be deducted from the during a taxable year
individual's income tax?
When the suicide clause is inserted 2 year period.
in a life insurance contract, death by
suicide is not covered during the
policy's initial
Which of the following is a preventive care
characteristic of Health Maintenance
Organizations (HMOs)?
The life insurance policy will not be the producer has explained the policy to the client.
truly effective until all of the
following occur EXCEPT
Under which situation must insurable when a third-party applicant names themselves
interest exist between the applicant beneficiary
and insured at the time of
application?
Which of the following is a The cash value earnings are based on the
distinguishing feature of a variable performance of the separate account.
life insurance policy?
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,3/9/26, 7:32 AM PSI Insurance EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | …
The person who receives the benefit annuitant.
of an annuity is known as the
Which of the following is an example annual premium payment
of a premium payment mode?
How do most disability policies it must be handled as a new claim for a new period
handle the case of a recurrent of disability, requiring a new elimination period.
disability occurring at least 90 days
after the first claim?
Which of the following is true for Routine care is provided without coinsurance or
most comprehensive dental deductibles.
policies?
Under a Medicare Supplement 6 months
Policy, preexisting conditions
CANNOT be excluded after how
many months from the effective date
of the policy?
What does an application for an offer
insurance contractually represent for
the insured?
Which of the following is exempted fraudulent misstatements
from the incontestability provision in
insurance policies?
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, 3/9/26, 7:32 AM PSI Insurance EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | …
Which of the following may be elimination period
thought of as a time deductible
rather than a dollar deductible in a
disability income policy because
benefits are not payable during that
time?
How long after being entitled to 2 years
Social Security disability benefits will
an individual be eligible to receive
Medicare benefits?
If a policy is determined to be a considered taxable income first.
Modified Endowment Contract
(MEC), funds received under the
policy will be
Which type of annuity attempts to variable
offset inflation by providing a benefit
linked to an underlying investment
account?
What is a MIB report? medical information on an applicant for assessing
life or health insurance risk
Group Life Policies typically include conversion privilege
which of the following provisions?
In a case where an individual's health The individual's policy pays first, the spouse's policy
is insured by both their own policy pays the remaining up to coverage amount.
and their spouse's policy, which
policy pays in the event of an illness?
https://quizlet.com/1153483067/psi-insurance-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 4/32
PSI Insurance EXAM, MOST TESTED QUESTIONS
AND VERIFIED SOLUTIONS/GET IT 100%
ACCURATE!! 2026!!
Save
Terms in this set (228)
What is it called when a life multiple indemnity
insurance policy pays a multiple of
the coverage amount when certain
types of accidents occur?
Upon the issuance of a conditional 30 days
receipt for a renewal when the
premium is paid AFTER the time
granted by the insurer, what is the
maximum amount of time for
reinstatement of the policy?
Which of the following statements This option provides the highest monthly income.
regarding a pure life annuity payout
option is correct?
Which of the following does not fraudulent misstatements
apply to the time limit on certain
defenses provision in health
insurance policies?
https://quizlet.com/1153483067/psi-insurance-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 1/32
,3/9/26, 7:32 AM PSI Insurance EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | …
If an individual is insured by both The individual's policy pays first, the spouse's policy
their own health insurance policy pays the remaining up to coverage amount.
and their spouse's policy, which
policy pays first in the event of an
illness?
When can the premiums of an when the taxpayer's unreimbursed medical
individually owned health insurance expenses exceed 7.5% of adjusted gross income
policy be deducted from the during a taxable year
individual's income tax?
When the suicide clause is inserted 2 year period.
in a life insurance contract, death by
suicide is not covered during the
policy's initial
Which of the following is a preventive care
characteristic of Health Maintenance
Organizations (HMOs)?
The life insurance policy will not be the producer has explained the policy to the client.
truly effective until all of the
following occur EXCEPT
Under which situation must insurable when a third-party applicant names themselves
interest exist between the applicant beneficiary
and insured at the time of
application?
Which of the following is a The cash value earnings are based on the
distinguishing feature of a variable performance of the separate account.
life insurance policy?
https://quizlet.com/1153483067/psi-insurance-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 2/32
,3/9/26, 7:32 AM PSI Insurance EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | …
The person who receives the benefit annuitant.
of an annuity is known as the
Which of the following is an example annual premium payment
of a premium payment mode?
How do most disability policies it must be handled as a new claim for a new period
handle the case of a recurrent of disability, requiring a new elimination period.
disability occurring at least 90 days
after the first claim?
Which of the following is true for Routine care is provided without coinsurance or
most comprehensive dental deductibles.
policies?
Under a Medicare Supplement 6 months
Policy, preexisting conditions
CANNOT be excluded after how
many months from the effective date
of the policy?
What does an application for an offer
insurance contractually represent for
the insured?
Which of the following is exempted fraudulent misstatements
from the incontestability provision in
insurance policies?
https://quizlet.com/1153483067/psi-insurance-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 3/32
, 3/9/26, 7:32 AM PSI Insurance EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | …
Which of the following may be elimination period
thought of as a time deductible
rather than a dollar deductible in a
disability income policy because
benefits are not payable during that
time?
How long after being entitled to 2 years
Social Security disability benefits will
an individual be eligible to receive
Medicare benefits?
If a policy is determined to be a considered taxable income first.
Modified Endowment Contract
(MEC), funds received under the
policy will be
Which type of annuity attempts to variable
offset inflation by providing a benefit
linked to an underlying investment
account?
What is a MIB report? medical information on an applicant for assessing
life or health insurance risk
Group Life Policies typically include conversion privilege
which of the following provisions?
In a case where an individual's health The individual's policy pays first, the spouse's policy
is insured by both their own policy pays the remaining up to coverage amount.
and their spouse's policy, which
policy pays in the event of an illness?
https://quizlet.com/1153483067/psi-insurance-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 4/32
