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LIFE ACCIDENT AND HEALTH INSURANCE STATE OH ACTUAL
EXAM NEWEST VERSION - 2025/2026- WITH 100+ QUESTIONS
AND VERIFIED ANSWERS (100% SUCCESS)
The principle of insurable interest, in regards to a life insurance contract, is accurately described in which statement? Insurable interest can be based on the love and affection of individuals related by blood or law Craig submits a %500 claim for medical expenses. With a past due premium of $100, the insurer pays $400. which of the uniform optional provisions covers this situation? unpaid premium An example of a health insuring corporation (HIC) specialty care provider is neurologist The waiver of premium does NOT include which provision? Al future premiums are waived if the insured recovers from the disability An advertisement for an insurance product may contain the insurer's name
A medicare supplement plan can be canceled by the insurer for nonpayment of premiums an insurance company needs to obtain personal info from a 3rd part concerning an applicant. which law do all insurers and their producers need to comply with? fair credit reporting act time is covered under a group plan and would like to changed his coverage to an individual policy w the same insurer bc of employment termination. which of these describes the change that will take place? conversion an agents appt has been terminated by insurer. the insurer must then notify the superintendent within how many days of the termination? 30 the suicide clause of a life insurance policy states that if an insured commits suicide w in a stated period from the policy inception, the insurer will only be liable for a return of prisms paid minus indebtedness and without interest
completing the application and collecting initial premium a life insurance policy which contains cash values that vary according to its investment performance of stocks is called variable whole life a life insurance policy owner was injured in an automobile accident which results in total and permanent disability. which rider would pay a monthly amount bc of this disability? disability income rider pierre is covered by his employers group major medical plan. his employer pays for 75% of the premium and he pays for 25%. how much would a 10000 benefit be taxable as income under this plan 0 what is not an element of a valid contract countersignature a health insurance policy will typically cover
preventative health services which settlement option involves having the proceeds remain with the insurer and earnings paid on a monthly basis to the beneficiary? interest only all of the following are qualifications for establishing a health savings act (HSA) except enrolled in a health plan with a prescription drug benefit legal purpose is a term used in contract law meaning there must be legal reasons for entering into the contract donald is the primary insured of a life insurance policy and adds a children's term rider. what is the advantage of adding this rider? can be converted to a permanent coverage The factor used most often when underwriting a disability income policy is annual earnings
which signature is not required on an indiv insurance app insurer what can increase death benefit amount? cost of living, accidental death rider and guaranteed insurability but waiver of premium cannot the open enrollment period for medicare supplements begins at age 65 an example of replacement is cancelling a term life policy to buy a whole life policy replacement can be best described as exchanging a new policy for one already in force a common exclusion for limitation on a dental policy is
endodontics group health plans may deny participation based upon the member part-time employment status which of the following employers is required to follow ERISA regs a local business of 12 employees renewable term life insurance policy can be renewed at a predetermined date or age, regardless of the insureds health which type of disability would be less than total impairment and equal to permanent impairment? permanent partial disability how is medicare utilized in group situatoins your group plan will pay first on you hosp and med bill for 30 months ex of business continuation plan
which of the following policies does not build cash value term an agents appt may only be terminated by insurer A beneficiary change can occur normally at any time during the policy term a life insurance poincyowner does not have the right to revoke an absolute assignment which of these is affected by the frequency of an insurance policy premium payments cost which of the following is ineligible to participate in section 125 plan? highly compensated employee in a n s-corp
which of the following is considered to be an act of misrepresentation? falsifying the terms, benefits, advantages or conditions of an insurance policy the limited period of time given to all members to sign up for a group health plan is called the enrollment period how is the cost of a policy affected when a policy owner pays premiums more frequently? increases James is the insured on a life insurance policy where his age was misstated on the application. Which of the following is CORRECT regarding the death benefit amount? The original face amount will be paid to the beneficiary The policy will be voided with no death benefits paid The death benefit paid will be what the premium would have purchased at the correct age
what is true about the federal income tax liability owed no federal income tax is owed on life insurance proceeds signatures for an insurance application must be obtained by the producer from all of the following sources except the beneficiary long-term care policies or certificates issued in ohio are required to have non-forfeiture value Proceeds from a life insurance policy are protected from the beneficiary's creditors by which clause? spendthrift trust clause rob has a benefit at work which enables him to defer his current receipt of income and have it paid at a later date, when he will probably be in a lower tax bracket. which benefit fits this description? deferred compensation option
which of these will have the highest monthly payout upon annutizationq straight life premiums that exceed 7.5% of an insured adjusted gross income are tax deductible when paid for which of the following plans group disability income plan custodial care at home would require long term care coverage which of the following is not a power for the superintendent enact insurance legislation. they can administer oaths, issue subpoenas and approve policy forms written notice for health claim must be given to the insurer ___ days after the occurrence of the loss 20 A person who is a nonsmoker, of average weight and in excellent health would most likely be in which risk classification?
After the incontestable period after the first premium is paid how much does medicare b pay for physicians fees 80% medicare part b pays for 80% of most doctors services, outpatient treatments, and durable medical equipment (like oxygen or wheelchairs) insurable interest does not occur in which group bus owner and bus client An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. 15 days violation of us code 1033 who deals w it us attorney general
reduced paid-up nonforfeiture policy has a decreased face amount eligible for part d: prescription drug coverage must have medicare coverage valid prescription is incorrect the first payment for newborn accident and health coverage is due ___ days after the birth 31 Premium mode is a term used to describe the frequency of the premium payment all of the following are considered appropriate uses of life insurance for bus purposes except protecting the bus by covering entry level employees w life insurance
which annuity payout option allows the policy owner to choose a redetermined number of benefit payments period certain which of the following describes a person who is not acceptable by the insurer at a standard rates bc of health history, occupation or hobbies substandard risk the double indemnity provision in a life insurance policy pertains to an insured death caused by an accident An attending physician's statement would be appropriate for which life insurance purpose? Attending physician's statements are mandatory during the application process At the request of the applicant to assist in the underwriting decision At the request of the producer to assist in the underwriting decision At the request of the insurer to assist in the underwriting decision c
a long-term care policy typically provides all the following levels of care except acute care which of these would not be considered a presumptive disability? loss of a leg OR arm if an agent is believed to be causing considerable harm, the superintendent may issue a cease and desist order against the agent A provision in a whole life policy that allows a policyowner to terminate the policy in return for a reduced paid-up policy of the same type is called a(n) insuring clause payor provision reinstatement provision nonforfeiture provision nonforfeiture provision
