Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? On Social Security disability for over two years, D.Falling below the federal poverty level, D. Falling below the federal poverty level, Field underwriting performed by the producer involves, Completing the application and collecting initial premium, A provision that allows a policy owner to withdraw a policy's cash value interest free is a(n). If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay, Paul is an employee who caught a disease unique to the trade in which he was exposed to. a. The death benefit paid will be what the premium would have purchased at the correct age. How many employees must an employer have for a terminated employee to be eligible for COBRA? The taxable portion of each annuity payment is calculated using which method? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. June 5, 2022 . A life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situations EXCEPT, An insurance consultant is BEST defines as a. C. Protects consumers with guidelines regarding creditreporting and distribution. When does a life insurance policy typically become effective? 1. What is the purpose of having an accelerated death benefit on a life insurance policy? pain between 4th and 5th metatarsal. How often must an insurance producer's license in Maryland be renewed? How many months can a life insurance policy normally be backdated from the date of application? c. Solve the equation f(x)=0, if possible. Introducing Cram Folders! It allows for cash advances to be paid against the death benefit if the insured becomes terminally ill. Who assumes the investment risk in a variable insurance contract? The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: In which of the following relationship would there NOT be an insurable interest? b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? What kind of insurance provides coverage for one or more necessary or appropriate diagnostic, preventative, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital? Erica is 35 years old and owns an IRA. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Which of these is likely to occur when life or health insurance is being applied for? Both May and John are injured. Howdoes one become eligible for part D: Prescription Drug Coverage? The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? Whatis the purpose of the medical information Bureau (MIB)? a. Theinsured skipped a payment beyond the 31 day grace period, b. Theinsured was injured while participating in an illegal occupation, c. Theinsured was given a notice of cancellation from the insurer, d. Theinsured suffered an injury as an innocent bystander during a bank robbery. B. ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. B. A provision in a whole life policy that allows a policy owner to terminate the policy in return for a reduced paid-up policy of the same type is called, A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called. 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 type of contract may NOT be issued by an insurance company? James is the insured on a life insurance policy where his age was misstated on the application. Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? Which of the following is NOT a common exclusion for a medical expense policy? C. Normally graded over a period of 20 years. Which of the following statements is TRUE about Medicaid? Which of the following is an example of fraud? This illustration MUST disclose that. Who would make the final determination on whether or not an insurance advertisement is misleading? Maria has committed what crime? You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. All Medicare Supplement policies MUST contain which provision? Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Jim recently sold his whole life insurance policy under a critical settlement contract. On which date would Sonya have coverage? A long-term care policy typically provides all of the following levels of care EXCEPT, A life insurance policy that has premiums fully paid up within a stated time period is called, A securities license is required for a life insurance producer to sell, In contrast to a guaranteed renewable policy, a noncancellable policy. By . d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). A silver level medical plan is what percent the insurance company pays for the employee and the other percent is what the employee pays out of pocket (Unders Insurance companies look at a number of factors when it comes to setting premiums for a particular company. Whendoes a life insurance policy typically become effective? D. Administered by the federal government. Which of the following is considered a tax-deductible medical expenseunder this rule? Which of these is NOT an Unfair Claims Settlement Practice? Its balance sheet for this year is as follows: EndingBeginningBalanceBalanceCashandcashequivalents$48,000$57,000Accountsreceivable41,00044,000Inventory55,00050,000Totalcurrentassets144,000151,000Property,plant,andequipment150,000140,000Lessaccumulateddepreciation50,00035,000Netproperty,plant,andequipment100,000105,000Totalassets$244,000$256,000Accountspayable$32,000$57,000Incometaxespayable25,00028,000Bondspayable60,00050,000Commonstock70,00060,000Ratainedearnings57,00061,000Totalliabilitiesandstockholdersequity$244,000$256,000\begin{array}{l c c} Former dependent of employee no longer ofdependent status. Which situation accurately describes a reduced paid-up nonforfeiture option? XZY company has applied for group health insurance for its employees. These rights are called, A producer who intentionally makes an untrue or incomplete statement in the course of an insurance transaction may be guilty of. A. In order for the producer's insurance business to continue, the Commissioner may issue to the producer's spouse a has a mental or physical handicap and remains dependent on the parent A dependent child may remain on a parent's health insurance plan beyond age 26 if the child 60 A licensee MUST notify the Commissioner of an address change within _______ days of the change, Violations of US Code Title 18 section 1033 may result in, In the state of Maryland, a licensed producer, sharing commissions with other licensed and appointed agents, All of the following actions are considered rebating EXCEPT, Under the Maryland Health Insurance Plan, comprehensive health benefits are provided to, A producer who knowingly submits a false statement in support of a claim. a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application A licensed producer is required to file notice of any change of address within how many days? D. The face amount and premiumwill remain constant over the 10-year period. Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? How soon can the benefit payments begin with a deferred annuity? Because dividends are considered to be a return of premium. A. Healthinsurance will typically cover which of the following perils? As of January 1, 2014, small group health insurance can be rated on the basis of. Bob dies 12 months later. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). Which of the following is NOT a duty of the Commissioner? \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ How long must an individual be unable to engage in any gainful activity due physical or mental disability in order to qualify for Social Security Total Disability? Fundingfor Medicare Part B is Partially provided by. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Determines what is paid by the primary and secondary insurers in the event of a claim, A producer has recently died and leaves behind a spouse. To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. How long after its effective date will an individual life insurance policy become incontestable? If he files an application for renewal before the expiration date, his license will, A Medicare Supplement policy can be cancelled by the insurer for, Recording the receipt and distribution of premiums due to an insurer is considered a producer's _________ responsibility. Which option was chosen? With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. b. d. A covered employee if terminated for grossmisconduct. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. Her agent submitted the information to the insurance company on April 6. Find out how you can intelligently organize your Flashcards. In Maryland, an insurance producer cannot sell, solicit, or negotiate policies for an insurer unless there is an agreement in place between the producer and insurer.
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