Advertising material for a life insurance policy does NOT need to contain which of the following? If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. What is this an example of? When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? When are group disability benefits considered to be tax-free to the insured? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu The individual is paying premiums that are priced for each year or Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of instability. An insurer formed according to the legal requirements of another country is called an. The promise of a discount in premium as an inducement to purchase insurance is known as, exchanging a new policy for one already in force, with guidelines regarding credit reporting and distribution, The Fair Credit Reporting Act protects consumers, Terminally-ill life insurance policyowners may sell their policy at a discount to a third party. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Which of the following would be the appropriate tax consequence? What happens to interest earned if the annuitant dies before the payout start date? Any decrease in income resulting from this injury would make him eligible for benefits under which provision? All of these are responsibilities of the Commissioner EXCEPT, policy must be issued to XYZ, and a certificate must be issued to each employee, XYZ Corp was issued a group health policy for its employees. An insurance company needs to obtain personal information from a third party concerning an applicant. Which of the following must be included in the advertisement? Benefits for a Medicare Supplement policy. Which of the following actions by a producer would NOT result in a license suspension or revocation? For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) \\ She recently replaced the policy with a new one that provides better coverage. a producers secretary who solicits prospects on the telephone. Life insurance policies will. A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. June 24, 2022 . Whichof the following is a requirement for ANY change in an insurance application? The Healthcare Insurance Exchange offers plans for everyone. D.) Intentionally violated state insurance laws. Both May and John are injured. What happens to coverage under a children's term rider when that child reaches a certain specified age? A. Atourist traveling abroad on a major airline carrier, B. Anindividual who has a hobby racing cars once a month, C. Anairline pilot who flies for a commercial carrier, B. AnIndividual who has a hobby racing cars once a month. juin 5, 2022 . Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? At what age can she begin to receive distributions without a tax penalty? a. Mustmeet certain underwriting guidelines. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). A Long-Term Care policy may only exclude pre-existing conditions for up to _____ months, The identity of the ____ must be made clear in every health insurance advertisement, _______________ is the authority given to a producer to sell, solicit, or negotiate insurance on behalf of the insurer, Pre-existing conditions may only be excluded from coverage for a maximum of 6 months. The right-to-examine period in Maryland for long-Term Care polices is ___ days. D.) By providing consumer credit counseling. Which of the following is an example of fraud? Since each partner contributes an important element to the success of the business, they decide to take life insurance policies out on each other, and name each other as beneficiaries. How long is her grace period? A Medicare supplement policy can be cancelled by the insurer for: Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Which of the following is NOT a circumstance to which a temporary producer license can be issued? Which of the following statements is TRUE? Whatis the purpose of the medical information Bureau (MIB)? With a past due premium of $100, the insurer pays $400. 1. Whoassumes the investment risk with a fixed annuity contract? Whichscenario would most life insurance policies exclude coverage for? An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. Which of the following is required for an insurer to conduct business in this state? 2.1.1 6 Whole life Insurance in Malaysia After passing the state Producer licensing exam, application for the license must be made within, How long must an insurance company keep record on life insurance replacement activity, An insurance company that is organized or chartered in a country other than the United States is defined as, Advertisements of insurance in a local newspaper, must be approved by, Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit, Increase the premiums on an individual basis, Continued coverage under COBRA would be provided to a(n), A covered employee is terminated for gross misconduct, In New Jersey, health insurance advertisements are required to contain the, The purpose of a coordination-of-benefits provision in group health accident and health plans is to, If an insured dies during the grace period with no premiums paid, The policy would be payable, minus the premium amount, A 10% excise tax is normally applied to an early withdrawal from an IRA. A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. An agent is required to keep replacement forms on file for at LEAST _____ years, When a Medicare supplement policy is purchased during the open enrollment period, The policy must be issued regardless of health status, Have it's content approved by the Insurance Commissioner. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Assist in the underwriting of insurance policies. Which of the following is NOT part of an insurance contract? In the advertising of Individual Life Insurance policies, an "introductory" or "special enrollment" may not be made available until any previous enrollment period for the same policy has been closed for at least how long? An annuitant is guaranteed to NOT outlive their benefits will a(n). Term, Whole, and universal lifeinsurance. In Maryland, a Producer may have his/her license revoked for which of the following acts? Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. At the request of the insurer to assist in the underwriting decision. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? Which of the following is true concerning the proceeds of a life insurance policy? The law that established insurance transactions regulated by the states is called. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. 1. The two plans are fee-for-service and. The policies continue in force with no change. It would be considered taxable income to the employee. 1. (p^1p^2). The prescription of a drug for treatments other than what's labeled is known as _____ use, Coverage for newborns under a health plan MUST include coverage for. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Within how many days must a producer notify the Department of Banking and Insurance of a change in address? An individual can enroll in a Part C Medicare Advantage Plan at what time? A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. A. Thepolicys elimination period is waived, B. Thetime frame for reinstating a lapsed policy is extended, C. Thepolicys probation period is earlier than the present, D. Thepolicy effective date is earlier than the present, D. The policy effective date is earlier than thepresent, Premiummode is a term used to describe the. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. Prospective producer who is waiting to take the state examination. A Whole life policy option where extended terminsurance is selected is called a(n), A provision in a whole life policy that allows apolicy owner to terminate the policy in return for a reduced paid-up policy ofthe same type is called a(N). Mary ran into John, another employee, who happened to be taking outthe garbage. B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. who would be responsible for the prosecution of this crime? D. Level for the first 5 years then decreases forthe remainder of the policy. Which of the following statements is CORRECT regarding an individual applying for life or health insurance? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. c. Travel accidental insurance premiums. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Which of these if NOT considered a form of life insurance advertisement? What is the contract called that is issued to an employer for a Group Medical Insurance plan? XZY company has applied for group health insurance for its employees. Which of the following does Medicare Part D cover? Maria has committed what crime? 1. 1. a producers secretary who solicits prospects on the telephone. How often must the Commissioner examine each domestic insurance company?