What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Maria has committed what crime? The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? The law that established insurance transactions regulated by the states is called. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? The time limit for filing claim disputes is addressed in which provision of an accident and health policy? a producers secretary who solicits prospects on the telephone. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? B. Whenthe application is collected and policy is issued, C. Whenthe application is completed and signed, D. Whenthe completed application is signed and initial premium is collected. licensed producers not appointed by an insurer. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. Complete the sentence using each term once. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ A separate converted policy may, at the option of the insurance company, be issued to cover a (n). Using derogatory statements about an insurance company's financial condition. Which of the following is true concerning the proceeds of a life insurance policy? Which of the following is NOT part of an insurance contract? Afterwards, she deposits the check into her personal account. Which of these is affected by the frequency of an insurance policy's premium payments? How long is her grace period? What kind of insurance provides coverage for one or more necessary or appropriate diagnostic, preventative, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital? When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? By . All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. A. Thepolicys elimination period is waived, B. Thetime frame for reinstating a lapsed policy is extended, C. Thepolicys probation period is earlier than the present, D. Thepolicy effective date is earlier than the present, D. The policy effective date is earlier than thepresent, Premiummode is a term used to describe the. (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. Which of the following does Coordination of Benefits allow? assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. Which of the following is present when an applicant stands to lose value if the insured dies? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. 1. B.) In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. 1. What is the primary purpose of a rating service company such as A.M. Best? she may need to resume premium payments, depending on actual results, Kiara filled out a life insurance application and was given a policy illustration that showed future premiums being paid out of non guaranteed values. B. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. Alimited payment whole life policy provides. Course Hero is not sponsored or endorsed by any college or university. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? A. Final Exam - New Jersey Life and Health Flashcards | Quizlet Continued coverage under COBRA would be providedto all of the following EXCEPT: a. The death benefit paid will be what the premium would have purchased at the correct age. Please sign in to share these flashcards. Please select the correct language below. belmont funeral home obituaries barbados Afterwards, she deposits the check into her personal checking account. Pierre MUST remit the premium to his insurer within ___ business days of receipt. Benefits for a Medicare Supplement policy. Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? Whichmarket index is normally associated with an indexed annuitys rate of return? In a group health care, what is the purpose of the coordination of benefits provision? 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. Term, Whole, and universal lifeinsurance. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? The rider is called a(n), All if these are valid options for an adjustable life policy except, A non forfeiture option can be used to increase the death benefit. During the year, Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for$3,000 that had originally cost $6,000 and had accumulated depreciation of$4,000. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. A provision in a whole life policy that allows a policy owner to terminate the policy in return for a reduced paid-up policy of the same type is called, A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called. According to HIPPA, this tax will not be applied if the withdrawal is used for medical expenses that exceed _____ of the individual's adjusted gross income. Bob and Tom start a business. HIPPA considers which of the following as "individually identifiable health information"? 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. A master contract and certificate of coverage can be found in which type of policy? ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. Which of these is NOT a characteristic of the Accelerated Death Benefit option? Which of the following topics needs to be discussed with this client? D. The face amount and premiumwill remain constant over the 10-year period. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. Her agent submitted the information to the insurance company on April 6. One of. Who would most likely be coveredunder Workers Compensation? Underthe Maryland health insurance plan, comprehensive health benefits are providedto. How often must an insurance producer's license in Maryland be renewed? Which of the following is an example of defamation? who would be responsible for the prosecution of this crime? In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? Pay for Medicare charges exceeding the approvedamount. She may reinstate her policy within _____ years. A producer's secretary who solicits prospects on the telephone, When a producer is replacing an existing ordinary life insurance policy, the producer must take all of the following actions EXCEPT, In Maryland, a full-time employee of a small employer MUST work an average of at least _____ per week, A producer may begin to solicit insurance ONLY when. It is health insurance for the elderly. Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? June 5, 2022 . Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? Registered for the state insurance examination. Introducing Cram Folders! Proceeds payable under a life insurance contract to a policyowner in anticipation of death or upon the occurrence of specified life-threatening conditions as defined by the policy are best described as: A temporary producer license in Maryland is valid for up to. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. 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. 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. 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. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? Failing to renew license on timely basics, C.) Sharing Commissioners with another licensed Producer, D.) Signing a prospect's name without thier knowledge or presence, The Fair Credit Reporting Act Protects consumers, B.) 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. A producer who sells an individual life insurance policy in Maryland MUST deliver to the policyowner a, Refusing to pay persons bringing false or fraudulent claims, All of these may be an Unfair Claims Practice EXCEPT, is eligible for a Federal tax credit through the SHOP Exchange, An existing health benefit plan offered by a small employer may be replaced by a SHOP Exchange Navigator only if the small employer, An insurance producer who replaces an existing policy by making false written or oral statements is committing the act of, A producer has recently died and leaves behind a spouse. Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? The taxable portion of each annuity payment is calculated using which method? How much does Medicare Part B pay for physician fees? 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. Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? James is the insured on a life insurance policy where his age was misstated on the application. How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? Making the policy effective on an earlier date than the present. A _______ company is owned by its shareholders, The ___________ has the right to renew a small employer health plan, providing incorrect, misleading, incomplete, or materially untrue information in the license application, A producer who is licensed in Maryland but resident in another state is called a, A minor may receive a life insurance policy's death benefit ONLY, Interest on death benefits are NOT required to be paid by an insurance company as long as proceeds are paid within ______ after the date of the death of the insured, Submit to the replacing insurer a list of the policies to be replaced. ARoth IRA owner must be a least what age in order to make tax-free withdrawals? We'll bring you back here when you are done. When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. Which rider would pay a monthly amount because of this disability? Submit to the replacing insurer a list of the policies to be replaced. D. The face amount and premium will remain constantover the 10-year period.