However, once there is solicitation, a license is required. C$1,500 D If an insurance company has published a brochure that in accurately portrays the advantages of a particular insurance policy. What is true? D False advertising. He died on February 28. This rider usually expires at the insured's age of 40. All of the following actions can be described as twisting EXCEPT. B Twisting Which nonforfeiture option has the highest amount of insurance protection? 60 days. A banker is ready to close on a customer's loan. If $100,000 of life insurance proceeds were used in a settlement option, which paid $13,000 per year for ten years, which of the following would be taxable annually? If you like the fitness and motion activity tracking feature on the iPhone, you should have this setting left on. A rebate is a type of purchasing discount that is paid as a reduction. If she terminates her group coverage, what is true? The purpose of the Tennessee Guaranty Association is to. 6 2/3 A 40 year old man buys a whole life policy and names his wife as his only beneficiary. The dividend option that the insured has chosen is called? Each agent must pay a $5 appointment fee to the Commissioner. There is a limit for a withdrawal and the insurer charges a fee. C Listing the insurance companies the agency represents in a letter A father owns a life insurance policy on his 15-year-old daughter. The company also guarantees the specified dollar amount for each payment and the length of the payout period. NAIC. 16/9 = Weegy: Whenever an individual stops drinking, the BAL will decrease slowly. D Collecting a lower premium than what's specified in a policy as a token of client appreciation. A Defamation 20/3 All of the following would be considered to be rebating EXCEPT, which was part of Insurance MCQs & Answers. The separate account under many annuities provides the annuitant with a dozen or more investment options ranging from "money market funds" to "growth stock funds" to "precious metal funds". B 60 days A father purchases a life insurance policy on his teenage daughter and adds the Payor benefit rider. Which of the following would be considered false advertising? Within how many days of requesting an an investigative consumer report must an (insurer) notify the consumer in writing that the report will be obtained? If an applicant has been licensed in the past 12 months, the Commissioner may waive education and examination requirements. All of the following events will terminate a producer's certificate of appointment EXCEPT Which of the following is an example of a producer being involved in an unfair trade practices of rebating? Employer contributions made to a qualified plan.. Search for an answer or ask Weegy. A Producer regulations and testing requirements. The validity of coverage under a life insurance policy may not be contested, except for nonpayment of premium, after the policy has been in force for at least how many years? To appoint a producer as it's agent, the appointing insurer must file a notice of appointment with the commissioner within how many days from the date the agency contract is executed? You should now have gotten the answer to your question Rebating is an unfair trade practice and is regulated by law. Expert answered|GaelM|Points 4547| Log in for more information. The policyowner should have her husband named as the.. A couple owns a life insurance policy with a Children's Term rider. D. Sexual orientation. If a beneficiary wants a guarantee that benefits paid from principal and interest would be paid for a period of 10 years before being exhausted, what settlement option should the beneficiary select? Autotrophs (like plants) produce glucose during photosynthesis. Which of the following would be considered an illegal inducement to purchase insurance? What percentage of a company's employees must take part in a noncontributory group life plan? You dont have to worry about it anymore. What is true of the cash surrender nonforfeiture option? In the best interests of the client, rebates are allowed. C A producer's license expires and is not renewed. What are the two components of a universal policy? An individual who willfully violates this Act enough to constitute a general pattern or business practice will be subject to a penalty of up to. Insureds who have been classified as preferred risk will On a participating insurance policy issued by a mutual insurance company, dividends paid to policyholders are. all of the following would be considered rebating except. A person required to be licensed under the laws of the state to sell, solicit, or negotiate insurance is known as. What is the purpose of a fixed-period settlement option? C Cease and desist order The regulation of the insurance industry primarily rest with. The main difference between immediate and deferred annuities is What does "level" refer to in level term insurance? When the application is signed and a check is given to the agent, The insurer's domicile of location of incorporation will determine whether a company is domestic, foreign, or alien. Which of the following best describes this practice? All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents. How do you get to Motion settings on iPhone? baja fresh queso recipe; Tags . What statement about a suicide clause in a life insurance policy is true? Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. All of the following would be considered rebating except. In which instance would the premium be tax deductible? In a direct rollover, how is the money transferred from one plan to the new one? According to the Fair Credit Reporting Act, all of the following would be considered negative information about a consumer: The four essential elements of all legal contracts: The Medical Information Bureau (MIB) was created to protect? D Any time in the past. WINDOWPANE is the live-streaming app for sharing your life as it happens, without filters, editing, or anything fake. What are the three basic types of term coverage available, based on how the face amount (death benefit) changes during the policy term: Best description of what an annuity period is: Policy which allows the partial withdrawal, or surrender, of the policy cash value. All of the following concerning a non-contributory group plan is true: What is an IRS qualified retirement program for the self-employed? All paid by the time the insured reaches age 65. Licensed, however, not in the state the indivisible resides. What is the purpose of a free-look period in insurance policies? B Unfair claim practice. A policyowner fails to pay the premium due on his whole life policy after the grace period passes, but the policy remains in force. In Michigan the state's continuing education requirement A licensed counselor MAY NOT perform which of the following duties? The policyowner of an adjustable life policy wants to increase the death benefit. What license or licenses are required to sell variable life annuities? D Audit or abstract insurance policies or annuities. If the corporation collects the policy benefit, then What is the best reason to purchase life insurance rather than annuities? She has decided that she would rather use the dividends to help pay for her next premium. Before the Director will issue a license, a person must meet all of the following qualifications EXCEPT a. Eligibility requirements for a license are established by the Insurance Code. Which of the following persons is required to hold a producer license? C 30 days What is the required percentage of participants in a contributory group plan? 10 czerwca 2022 . An insured misstates her age at the time the life insurance application is taken. Because of this, the company charged him a higher rate for his insurance. A Temporary Formula: (Ann . What statement concerning group life is true? Which of the following is an eligibility requirement for all Social Security disability income benefits? When a producer was reviewing a potential customer's coverage written by another company, the producer made several remarks that were maliciously critical of that other insurer. The ownership provision entitles the policyowner to What is correct concerning the taxation of premiums in a key-person life insurance policy? A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. a constant a term a variable an expression. Under which nonforfeiture option does the company pay the surrender value and have no further obligations to the policyowner? If a policy includes a free-look period of at least 10 days, the Buyer's Guide must be delivered to the applicant What policy component decreases in decreasing term insurance? To be able to pay some of her medical bills, she withdraws a portion of the policy's cash value. B 90 days Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as. If an insured surrenders his life insurance policy, which statement is true regarding the cash value of the policy? Rebating is an unfair trade practices and is regulated by law all of the following would be considered to be rebating except. A "At the time of the application" is when interest must exist. A Twisting. Which of the following documents must be provided to the policyowner or applicant during policy replacement? And employee has group life insurance through her employer. All of the following are true regarding rebates EXCEPT a) Rebates are only allowed if specifically stated in the policy. An agent who deliberately makes a malicious statement about another insurance company is guilty of an illegal trade practice called. Two or more variables considered to be related, in a statistical context, if their values change so that as Cellular respiration is a process that all living things use to convert glucose into energy. Defamation is making statements that are false as to the financial condition of any insurer and which are calculated to injure any person engaged in the business of insurance. any person acting as an insurance producer without a valid license may be fined up to. = 2 1/4. C. An insurance company director who performs executive, administrative and managerial duties A Provide opinions concerning benefits, coverage, terms, and advantages and disadvantages of a policy or annuity A policy will pay the death benefit if the insured dies during the 30-year premium-paying period, and nothing if death occurs after the 20-year period. An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy.
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