What is this an example of? Under this plan a, Adoption of a child (an uninsured, eligible employee who acquires a new dependent through marriage, birth, or adoption may qualify for special enrollment in a small employer's health benefit plan). B.) Who would make the final determination on whether or not an insurance advertisement is misleading? Which market index is associated with an indexed annuity's rate of return? Kathy pays a monthly premium on her health insurance policy. Registered for the state insurance examination. Jim recently sold his whole life insurance policy under a critical settlement contract. The replacing policy may only impose a ____ month time exclusion for pre-existing conditions, forward premiums to the insurer on a timely basis, When collecting insurance premiums from a client, a producer MUST, Once a health insurance policy has been in force for _______ years, the policy may NOT be contested by the insurer, cancelling a term life policy to buy a whole life policy, All of these types of benefits may be covered by a nonprofit health service plan EXCEPT, have it's content approved by the commissioner. In Maryland, a Producer may have his/her license revoked for which of the following acts? Which of these statements is true? Which of the following does Medicare Part D cover? Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid, A producer who shares commissions with a client. Mark continues working after the age of 65 and is covered through his employer's group health plan. Hill during her initial calls made to the call center. How long is the Contestable period for health insurance policies sold in Maryland? An individual who has a hobby racing cars once a month. This type of agreement is called a, The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as, An advertisement for an insurance product may contain, Signing a prospect's name without their knowledge or presence. The family's financial objectives if the income earner were to die or become disabled, Normally at any time during the policy term, Loans obtained by a policyowner against the cash value of a life insurance policy, The solicitation of a non-authorized contact in New Jersey violates. a producers secretary who solicits prospects on the telephone What will the beneficiary receive if an annuitant dies during the accumulation period? (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) A producer's license may only be suspended or revoked if the producer, one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital, Long-term care policies sold in Maryland may exclude coverage related to, The Life and health Guaranty Corporation provides funds to carry out its powers and duties by assessing, As of January 1, 2014, small group health insurance can be rated on the basis of, An individual covered under a Blue Cross Blue Shield plan is called a, An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a, Funding for Medicare Part B is partially provided by, Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility, MEWA (Multiple Employer Welfare Arrangement), Small employers who are sponsored by an insurer to provide group benefits to its employees are called. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. B.) belmont funeral home obituaries barbados What may be the result of replacing an existing life insurance policy with a new one? 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. Howdoes one become eligible for part D: Prescription Drug Coverage? If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? The concept is simple - the insured buys the policy and names Life insurance pays after a persons death to help family members pay for debt, lost income, or funeral costs (Life Insurance 686). In the event of a controversy between the insured and the company, the producer is considered to represent the, A life policy loan in Maryland cannot charge a fixed rate of interest higher than, The Food and Drug Administration approves prescription drugs for treatment as stated on the drug's labeling. A whole life policy option where extended term insurance is selected is called a(n). As beneficiary, he will pay__taxeson any money withdrawn. There is protection of proceeds against the insured's and the beneficiary's creditors, Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. An annuitant is guaranteed to NOT outlive their benefits will a(n). 14 day waiting period / 10 year benefit period. Employee must be able to make unlimited contributions. Which of these is NOT an Unfair Claims Settlement Practice? Afterwards, she deposits the check into her personal checking account. What is the purpose of a disability income benefit? D. The face amount and premium will remain constantover the 10-year period. Over the course of a year, which premium payment mode is most expensive? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ New Jersey insurance law requires eligible individuals to make an election to continue health insurance benefits within a MAXIMUM of _____ days after coverage termination, A _____ insurance company is one that was formed under the laws of a state other than New Jersey, All of the following are typically included in a life insurance policy illustration EXCEPT, Claims payable to a Disability Income insured, even when the insured can continue to work, are the result of a. XYZ Corp pays the tax-deductible insurance premiums for a key employee disability policy. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . A beneficiary has just received a claim payment for a life insurance policy. Under a life insurance policy, what does the insuring clause state? Frank is shopping for a disability income policy. If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? We understand that this must have been both very frustrating and disappointing. c. Travel accidental insurance premiums. Annuities are intended to create an estate. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? All Medicare Supplement policies MUST contain which provision? \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ Upon delivery, she may be expected to collect all of the following EXCEPT a(n), Modified application with a new signature, All of these are valid policy dividend options for a life insurance policyowner EXCEPT. She may reinstate her policy within _____ years. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. How often must an insurance producer's license in Maryland be renewed? How long after its effective date will an individual life insurance policy become incontestable? Which of the following is NOT a requirement for soliciting insurance in Maryland? a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Which of the following is NOT a federal requirement of a qualified plan? 1. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? How often must the Commissioner examine each domestic insurance company? The coverage, condition, and limitations in the master policy of a group contract can be found in which document? Must be bonded through the state. Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. Which of these will typically authorize treatment from a specialist? When does a life insurance policy typically become effective? Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. The statement which best describes the relationship between the relationship between the premiums of a whole life policy and the premium payment period is, The shorter the payment period, the higher the premium. In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? Replacement regulation is designed to protect the interests of, A health insurance policy that allows an insurer to change the policyowner's premiums, but NOT cancel the policy is called. B. Anytimewithin 12 months after date of purchase, C. Aminimum of 6 months after date of purchase, D. Aminimum of 12 months after date of purchase. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Using derogatory statements about an insurance company's financial condition. For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) The type of annuity she is seeking is called? A separate converted policy may, at the option of the insurance company, be issued to cover a (n). In what part of insurance policy benefits found? How soon can the benefit payments begin with a deferred annuity? Pay for Medicare charges exceeding the approvedamount. All of these are standard exclusions found in a life insurance policy EXCEPT. A producer has recently died and leaves behind a spouse In order for Continued coverage under COBRA would be providedto all of the following EXCEPT: a. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ Which of these is likely to occur when life or health insurance is being applied for? D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. The entity which issues the certificate of authority is the, A policyowner has _____ days after policy delivery to return a major medical policy for a full refund, make any transactions before being approved for a licence, counsels and advises the Governor on all matters assigned to the Maryland Insurance Administration, A Maryland insurance producer solicits an insurance policy. The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to asA)twistingB)subrogationC)a life settlementD) coercion. Which of the following is a requirement for ANY change in an insurance application? XZY company has applied for group health insurance for its employees. One of. juin 5, 2022 . Provides the insured a specific dollar amount for services, An example of an unfair method of competition is, Overstating the benefits of an insurance policy, A pharmacy benefit covers prescription drugs derived from a list called, The type of policy which pays on the death of the last person is called, Converting a group plan to permanent life insurance requires, The conversion being applied for within 31 days of termination, Ownership of a life insurance policy may be temporarily transferred with a(n). Which type of contract may NOT be issued by an insurance company? Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. An attending physician's statement would be appropriate for which life insurance purpose? A producer is meeting with a client to determine whether an annuity would be suitable for purchase. Which of the following is an example of defamation? Duringthe accumulation period, who can surrender an annuity? Whichof these will have the highest monthly payout upon annuitization? What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. The renewability provision for an individual long-term care insurance policy must be located on the policy form's, The ______________________ must be notified of a licensee's address change within 30 days of such change, Producers must complete a total of _______ Continuing Education hours for each two-year licensing period, A Medicare Supplement policy may exclude coverage for a preexisting condition for up to ____ months. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: info@nmpf.org Our Future You series provides a range of topical advice and guidance via webinars and podcasts. Their offer/administration. Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? You are given the graphs of several functions of the form f(x)=ax2+bx+cf(x)=a x^2+b x+cf(x)=ax2+bx+c for different values of a, b, and c. For each function. Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. Within how many days must a producer report to the Commissioner any administrative actions made against him/her? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Whendoes a life insurance policy typically become effective? What happens to coverage under a children's term rider when that child reaches a certain specified age? At the request of the insurer to assist in the underwriting decision. When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? Insurable interest can be established sufficiently by sentimental attachment alone, A life insurance policy written on one contract for two people in which it is payable upon the first death is called. Find out how you can intelligently organize your Flashcards. C. Normally graded over a period of 20 years. A closed network plan offers a primary physician copay of $25. port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador A. Paul has a (n), Failingto Promptly provide a reasonable explanation for the denial of a claim is conservedto be a(n), AnHMO that involves a partnership of physicians and other providers who practiceout of a central facility is called a(n), Smallemployers who are spooned by an insurer to provider group benefits to itsemployees are called. a producers secretary who solicits prospects on the telephone 1. A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? They are both involved in an automobile accident where Pat dies instantly and Karen dies 5 days later Key Person Disability Insurance pays benefits to the. Whichof these benefit options would he choose? Which of the following is Medicare Part B also known as? In the event of employment termination, group insurance can be kept if the employee pays the premiums. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? A. Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? June 5, 2022 . a. How many months can a life insurance policy normally be backdated from the date of application? Which scenario would most life insurance policies exclude coverage for? a producers secretary who solicits prospects on the telephone. Pierre MUST remit the premium to his insurer within ___ business days of receipt. Elizabethis the beneficiary of a life insurance policy. The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Which of the following is NOT a qualification to be licensed as a producer? What happens when an insurance policy is backdated? A life insurance policy sold in Maryland can be cancelled for nonfraudulent misstatements for up to, A person who has a contract with an insurance company to represent it, To a licensed producer who is appointed with the insurer. An insurer formed according to the legal requirements of another country is called an. D. Administered by the federal government. Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. B. the daily amount paid for nursing home care, All long-term care policies sold in North Dakota are REQUIRED to pay the SAME daily benefit amount for "at home" care as paid for. The premium for a Modified whole life policy is, How long is the Contestable Period for health insurance policies sold in New Jersey, An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of. Whatis the primary reason for buying an annuity? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. a producers secretary who solicits prospects on the telephone C.) Unintentionally misrepresented a material fact on the application. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? The Healthcare Insurance Exchange offers plans for everyone. An insurance company needs to obtain personal information from a third party concerning an applicant. A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? A separate converted policy may, at the option of the insurance company, be issued to cover an. Which of the following is NOT considered to be an actof fraud? Which of the following is typically NOT eligible for coverage in a group health policy? All Medicare Supplement policies MUST contain which provision? what happened to amy bailey happy healthy humble . An example of a primary care physician would be an, A fee for service health insurance plan will normally cover.