Texas life and health Final Exam Review Questions with Correct Answers Graded A+

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Texas life and health Final Exam Review Questions with Correct Answers Graded A+ If, at the time of an insured's death, the insurance company discovers that the insured's age was misstated on the a... pplication for life insurance, the company will most likely✔✔ pay the policy proceeds in the amount the premiums would have purchased at the insured's actual age The provision in a health insurance policy that suspends premiums being paid to the insurer while the insured is disabled is called the:✔✔ Waiver of Premium P and Q are married and have three children. P is the primary beneficiary on Q's Accidental Death and Dismemberment (AD&D) policy and Q's sister R is the contingent beneficiary. P, Q, and R are involved in a car accident and Q and R are killed instantly. The Accidental Death benefits will be paid to:✔✔ P only Which of these statements accurately describes the Waiver of Premium provision in an Accident and Health policy?✔✔ *Premiums are waived after the insured has been totally disabled for a specified time period (The Waiver of Premium provision waives the payment of premiums after the insured has been totally disabled for a specified period of time.) All of the following provisions must be included in life insurance policies EXCEPT✔✔ All of the following provisions must be included in life insurance policies EXCEPT Q applied for life insurance and submitted the initial premium on January 1. The policy was issued February 1, but it was not delivered by the agent until February 7. Q is dissatisfied and returns the policy February 13. How will the insurer handle this situation?✔✔ olicy was returned within the free-look period, premium will be fully refunded Who can purchase a plan through the Marketplace?✔✔ Any legal resident except those incarcerated A major medical policy typically:✔✔ provides benefits for reasonable and necessary medical expenses, subject to policy limits Which of the following BEST describes a short-term medical expense policy?✔✔ Nonrenewable A Whole Life Insurance Policy endows when the✔✔ Cash value equals the death benefitThe insuring clause✔✔ States the scope and limits of the coverage An insurer must provide an insured with claim forms within __ days after receiving notice of a loss.✔✔ 15 A Family Income Policy is a combination of Whole Life and✔✔ Decreasing term insurance T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will the mother receive?✔✔ $0 Which of these statements describe a Modified Endowment Contract (MEC)?✔✔ Exceeds the maximum amount of premium that can be paid into a policy and still have it recognized as a life insurance contract [Show More]

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