A HEALTH, LIFE AND ACCIDENT INSURANCE BUNDLED EXAMS 2024

PA LIFE, HEALTH AND ACCIDENT FINAL EXAM 2024 WITH 100% ACCURATE SOLUTIONS Which of these factors is NOT taken into consideration when determining the cost of a long-term care policy? - ANSWER ☑☑Personal Income What is the nonforfeiture value of an annuity before annuitization? - ANSWER...

Which of these factors is NOT taken into consideration when determining the cost of a long-term care policy? - ANSWER ☑☑Personal Income What is the nonforfeiture value of an annuity before annuitization? - ANSWER ☑☑All premiums paid, plus interest, minus any withdrawals and surrender ch...

Misrepresentation of material fact, made knowingly with intent to be deceptive? - ANSWER ☑☑Fraud Insurable Interest must exist when for property/casualty and life insurance? - ANSWER ☑☑Property/Casualty: Time of loss or claim occurs Life Insurance: Only at time of application when poli...

Premium payments for a universal life policy are NOT used for: - ANSWER ☑☑Separate account investments Under PA statute, first year commission for long-term care insurance may not be greater than - ANSWER ☑☑50% of the first year premium 10-year level term life InsPol that has a death...

the underwriting process begins - ANSWER ☑☑happens immediately after the application is submitted and the initial premium is paid TEFRA - ANSWER ☑☑amends the social security act to make medicare secondary to group health plans Binding Receipt - ANSWER ☑☑a receipt that makes the ...

To be qualified for an insurance producer license in Pennsylvania, an individual applicant must have reached the age of - ANSWER ☑☑18 In Pennsylvania, producer appointments are made by - ANSWER ☑☑Insurers Which of the following could be paid an insurance commission or fee? A. Lenn...

Which of the following is considered to be an alternative to a life settlement? - ANSWER ☑☑Accelerated death benefit rider The document that describes policy features, benefits, exclusions, and riders in Long-Term Care policy is known as - ANSWER ☑☑Outline of Coverage No Long-Term ca...

Why are dividends from a mutual insurer not subject to taxation? - ANSWER ☑☑because dividends are considered to be a return of premium what kind of life insurance policy issued by a mutual insurer provides a return of divisible surplus? - ANSWER ☑☑participating life insurance policy ...