Which of the following actions will an insurance company most likely not?
Asked by: Prof. Roel Will | Last update: July 19, 2023Score: 4.5/5 (48 votes)
Which of the following actions will an insurance company most likely NOT take if an applicant, who has diabetes, applies for a Disability Income policy? The correct answer is "Issue the policy with an altered Time of Payment of Claims provision".
Which mode of payment is not used by health insurance policies quizlet?
Which mode of payment is NOT used by health insurance policies? Single premium is not used when paying for health insurance policies.
Which of the following correctly explains the actions and agent should take if a customer wants to apply for an insurance policy quizlet?
Which of the following correctly explains the actions an agent should take if a customer wants to apply for an insurance policy? Complete the application and review the information with the customer prior to obtaining the customer's signature, then send the application off to the insurance company.
Which of these actions should a producer take when submitting an insurance application to an insurer?
One of the actions a producer should take when submitting an application is to advise the insurer of any other relevant information not contained in the application.
Which of the following best describes how pre admission certification is used quizlet?
Which of the following BEST describes how pre-admission certifications are used? Used to prevent nonessential medical costs.
2019 July NCUA Board Meeting
Which of the following actions will insurance company most likely not take if an applicant who has diabetes supplies for Disability Income policy?
Which of the following actions will an insurance company most likely NOT take if an applicant, who has diabetes, applies for a Disability Income policy? The correct answer is "Issue the policy with an altered Time of Payment of Claims provision".
Which of these provisions is not required in life insurance policies quizlet?
Which provision is NOT a requirement in a group life policy? Accidental". An AD&D provision is not required in a group life policy.
Which of the following is required for a producer to transact business on behalf of an insurer?
Which of the following is required for a producer to transact business on behalf of an insurer? A producer cannot transact insurance on behalf of an insurer until the producer is appointed by the insurer.
Which of the following is not included in a life insurance illustration quizlet?
Which of the following is NOT included in a life insurance illustration? Company's mortality table. A life insurance illustration is NOT required to include the company's mortality table.
Which of these types of policies may not have the automatic premium loan provision attached to it?
The automatic premium loan is available on whole life insurance policies. Because universal life policies will always deduct policy expenses from available cash value, they do not have an automatic premium loan feature.
Which of the following situation does not apply to the Florida replacement rule?
Which of the following situations does NOT apply to the Florida Replacement Rule? Florida's Replacement Rule applies to all of these situations EXCEPT "An existing policyholder purchases an additional policy from the same insurer".
When I miss representation on a life insurance policy application is discovered what action made an insurance company take?
When a misrepresentation on a life insurance policy application is discovered, what action may an insurance company take? Void the policy only if it is discovered during the contestable period and proven to be material.
Who is liable when an insured suffers a loss on a policy sold by an agent through an insurer?
When it comes to insurance agents, an insurance policyholder may hold the insurance company responsible, along with an individual agent. That is primarily because agents represent insurance companies, and both an agent and a principal are liable for an agent's negligence.
Which of the following claims are typically excluded from medical expense policies?
Intentionally self-inflicted injuries are typically excluded by Medical Expense policies.
Which of the following is not a required provision in group life policies?
Which provision is NOT a requirement in a group life policy? An AD&D provision is not required in a group life policy. The correct answer is "the entire cost of the plan is paid for by the employer". When an employer provides noncontributory group term life insurance, the employer pays the entire cost of the plan.
Which of the following is not covered under a hospitalization expense policy?
Which of the following services is NOT covered under a hospitalization expense policy? Surgeon's fees. (While an insured is hospitalized, the hospitalization expense coverage includes benefits for the cost of all of these services EXCEPT a surgeon's fees.) S wants to open a tax-exempt Health Savings Account.
Which of the following is not included in life insurance?
The contract of indemnity is defined as, " A contract where one party promises to save the other from the loss caused by the conduct of the promisor himself or by the conduct of any other party." In a life insurance contract, nobody can save the life of the person. Hence, contract of indemnity does not apply here.
Which of the following is not required information in a life insurance illustration?
Which of the following is NOT required on an illustration used in the sale of a life insurance policy? Underwriting or rating classification upon which the illustration is based.
Which of the following activities is not performed by an insurance producer?
Which of the following activities is NOT performed by an insurance producer? issuing the policy-Any activity that falls within the definition of transacting insurance requires that the person be licensed as an insurance producer. Insurance policies are issued by insurers and not producers.
Which of the following may not engage in the business of offering insurance advice for a fee?
Which of the following MAY NOT engage in the business of offering insurance advice for a fee? A Certified Public Accountant who solicits a client for the sale of an insurance policy.
Which of the following actions would not be considered a form of adverse underwriting decisions?
2. The following actions are not considered to be adverse underwriting decisions: (a) The termination of an individual policy form on a class or statewide basis. (b) A declination of insurance coverage solely because the coverage is not available on a class or statewide basis.
Which of the following is not a situation that involves life insurance policy replacement?
Whose life is covered on a life insurance policy that contains a payor benefit clause. Which of the following is NOT a situation that involves life insurance policy replacement? Maintaining an existing policy and applying for a new one.
Which of the following actions is required by an insured who leaves the primary area of medical coverage and seeks medical care quizlet?
If an insured leaves the primary area of medical coverage and seeks medical care, the insured first needs to: contact the insurer to obtain prior approval for the medical service.
Which of these is not a common life insurance Nonforfeiture option quizlet?
The policy loan value which the insured may borrow against. The accumulation cash value of a whole life insurance policy becomes the policy loan value upon which the insured may borrow. Which of these is NOT considered to be a common life insurance nonforfeiture option? Life Income annuity.