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Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. Final Exam - New Jersey Life and Health Flashcards | Quizlet 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? A master contract and certificate of coverage can be found in which type of policy? Which of the following statements is TRUE? 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu Whichof these will have the highest monthly payout upon annuitization? Which of the following is Medicare Part B also known as? It is health insurance for the elderly. Reggie purchased a life insurance policy with a face amount of $500,000. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? When are group disability benefits considered to be tax-free to the insured? a. Mustmeet certain underwriting guidelines. In event of acontroversy between the insured and the company, the producer is considered to representthe. What are the levels of coverage as defined by the Affordable Care Act? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. a producers secretary who solicits prospects on the telephone An insurance company may ONLY pay a sales commission to, Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called. Which of these is NOT an Unfair Claims Settlement Practice? 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. a producers secretary who solicits prospects on the telephone. Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. Re: Acting as insurance producer without a license Questions Presented 1. the exceptions, reductions, and limitations affecting the basic provisions of the policy, Any advertisement that mentions a dollar amount, period of time for which any benefit is payable, cost of policy, policy benefit, or the loss for which the benefit s is payable MUST disclose, All of the following is considered a form of advertising EXCEPT. \end{array} 1. In which of the following relationship would there NOT be an insurable interest? Pierre MUST remit the premium to his insurer within ___ business days of receipt. Which of the following does Medicare Part D cover? B.) by . belmont funeral home obituaries barbados Kathy pays a monthly premium on her health insurance policy. An insurance company needs to obtain personal information from a third party concerning an applicant. D. The face amount and premiumwill remain constant over the 10-year period. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? At the request of the insurer to assist in the underwriting decision. EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is, All of the following are core benefits of Medicare Supplement Plan A EXCEPT, Deductible payments for the first 60 days of hospitalization under Medicare hospitalization under Medicare hospitalization insurance, Statements made by an insurance applicant on an application are considered to be. 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. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. 1. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. We'll bring you back here when you are done. This is called a. A. Collectinga premium for insurance that is not provided. d. A covered employee if terminated for grossmisconduct. a producer's secretary who solicits prospects on the telephone. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). Howdoes one become eligible for part D: Prescription Drug Coverage? A life insurance policyowner is allowed ____ days upon policy delivery to return the policy for a full premium refund, A producer's license MUST be renewed every _______ years, Collecting a charge for insurance that is less than the charge applicable to that insurance. An attending physician's statement would be appropriate for which life insurance purpose? C. Careis only covered in a government facility, D. Careis only covered if primary care physician gives a referral, Theopen enrollment period for Medicare part B is, D. Generaltax revenue and user premiums. The Healthcare Insurance Exchange offers plans for everyone. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. AnIndividual can enroll in a part C Medicare Advantage Plan at what time? Which of the following is NOT a qualification to be licensed as a producer? How long is the Contestable period for health insurance policies sold in Maryland? 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. Which of the following statements is TRUE? Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). EXECUTIVE SUMMARY. We weren't able to detect the audio language on your flashcards. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? In New Jersey, group health insurance may be offered to all of these groups EXCEPT. In the event of the employment termination, group health insurance can be kept if the EMPLOYEE pays the premiums, A health insurer must be provided with written proof of loss _____ days after the date of loss, A producer must notify the Commissioner within _____ days of a felony conviction. She recently replaced the policy with a new one that provides better coverage. 2.1.1 6 Whole life Insurance in Malaysia An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of, An ____ _____ sells, solicits, or negotiates insurance contracts for compensation, All of these activities require an individual to hold a producer's license EXCEPT, Jim recently sold his whole life insurance policy under a viatical settlement contract. {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"Insurance\/Healt Agent Exam","payreferer_url":"\/flashcards\/copy\/insurance-healt-agent-exam--11456962","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. 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 separate converted policy may, at the option of the insurance company, be issued to cover a (n). A doctor who accepts Medicare Assignment agrees to which of the following? Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. An accident and health policy that provides reimbursement benefits makes them payable to the, A separate converted policy may, at the option of the insurance company, be issued to cover a, Dental treatment is needed to repair an injury. 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. licensed producers not appointed by an insurer. If an insured dies during the grace period with no premiums paid. a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . Whatis the purpose of the medical information Bureau (MIB)? New Jersey Department of Banking Insurance, A limited payment whole life policy provides, All advertisements for health insurance shall make clear the identity of the, The double indemnity provisions in a life insurance policy pertains to an insured's death caused by a. Mike has inherited his father's traditional IRA. The time limit for filing claim disputes is addressed in which provision of an accident and health policy? Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? The names of the insurance companies represented by the producer. An insurance company's trademark instead of the company's actual name, Using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy, Field underwriting performed by the producer involves, Completing the application and collecting initial premium. A. Doctormay charge up to a maximum of 15% more than Medicare pays for the service, B. Doctoris not bound by Medicare limitations on charge, C. Doctorcannot charge more than Medicares scheduled coverage, D. Doctor bills the Medicare beneficiary directlyfor services performed, A. Alwaysrequires service in a network, B. Providesa greater choice of providers, C. Alwaysrequires a referral to specialists. She would like to borrow $15,000 against the cash value. Long-term care insurance and Medicare Supplement plans have a free-lock period of ______ days, A ______ insurance company is one that was formed under the laws of a state other than Maryland, they are both licensed in the same line of business, Two producers may share a commission ONLY if, Mary's Medicare Supplement policy had been in effect for 12 months.

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