Study with Quizlet and memorize flashcards containing terms like What type of reinsurance contract involves two companies automatically sharing their risk exposure?, The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called, When third-party ownership is involved, applicants who also happen to be the stated primary beneficiary are required to have and more.

wait at least five years before applying for a new license · The benefits under a Disability Buy-Out policy are normally paid in installments taxable to the beneficiary payable to the company or another shareholder normally paid after a short elimination period ... he Health Insurance Portability and Accountability Act (HIPAA) gives privacy protection for insolvency health information financial information overinsurance ... How are surrender charges deducted in a life policy with a rear-end loaded provision?

1) When the applicant passes the exam and qualifies in all other respects except for the fingerprint check by the FBI, the Department of Insurance will issue a license called: A- Conditional B- Retroactive C- Temporary D- Reciprocal ... 1) A Texas resident agent seeking to sell insurance to customers in another state needs: A- A non-resident license in that state B- A Foreign agents license in that state C- A Certificate of Authority in that state D- A resident license in that state

Study with Quizlet and memorize flashcards containing terms like Why does an insurer have a 2-year suicide clause? a) because the commissioner of insurance requires it. b) suicide is never paid for in life insurance. c)to prevent payment of an immediate claim for a person contemplating suicide. d) to help an insurer be more profitable., Which of these could the owner of a life insurance policy do when there is a collateral assignment? a) determine how the dividends are used. b) cash surrender the policy. c) obtain another loan. d) cancel the policy., When only the insurer is allowed to alter an insurance contract, the clause that provides this is called? a) ownership b) entire contract c) consideration d) incontestable and more.

Which of these statements accurately describes the Waiver of Premium provision in an Accident and Health policy? *Premiums are waived after the insured has been totally disabled for a specified time period (The Waiver of Premium provision waives the payment of premiums after the insured has been totally disabled for a specified period of time.) All of the following provisions must be included in life insurance policies EXCEPT

Study with Quizlet and memorize flashcards containing terms like LIFE SECTION 1, 1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20-year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms.

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If an insured sustains a loss on a policy sold by an agent through an insurance company that is not authorized to do business in Texas, which of the following would be liable? * The agent only * The company only * The agent and the company * The Life, Accident, Health and Hospital Insurance Guaranty Association

Study with Quizlet and memorize flashcards containing terms like Health insurance coverage under COBRA, HIPAA guarantees that the person will, All the following statements about ordinary (or straight) whole life insurance are correct, Which activity in NOT an error or omission that makes an agent or producer legally to both the insurance and the insure and more.

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Start studying Texas Life And Health Insurance Exam (Questions) Flashcards. Learn vocabulary, terms, and more with flashcards.

Insurance policy transfers risk to the insurance company however the deductible is the amount of risk we retain (retention).

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A certificate of _____ permits an insurance company to transact business in Texas. ... The individual who provides general medical care for a patient as well as the referral for specialized care is known as: ... Which of the following is a valid reason for an enrollee to be cancelled by a Health Maintenance Organization (HMO) plan? ... Under federal tax laws, what is the tax treatment for an employer providing $50,000 of a contributory group Term Life plan to all its eligible employees?

Question 2 A new agent must complete at least _____ hours of continuing education within 24 months of initial license? ... Question 3 L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer discovers that L has understated range on the application.

February 26, 2024 - Texas Life and Health Insurance Exam 150 Questions and Answers (Verified Solutions) 2023- TEXAS LIFE LATEST UPDATE GRADED A At what point must a life insurance applicant be informed of their rights that fall under the Fair Credit Reporting Act? - ANSWER>> Upon completion of the application Who elects the governing body of a mutual insurance company?

-Funded by both state and federal governments -Intended to be used by individuals age 65 and older -Provides disability income benefits -Automatically cover those receiving Social Security disability benefits ... See an expert-written answer! We have an expert-written solution to this problem! In Texas, which of these statements regarding the Suicide clause is TRUE? -An insurer may not use suicide as a defense against payment after the 1st year -An insurer must always pay a death benefit when the cause of death was suicide -An insurance company may only deny a suicide death claim if an exclusionary rider is attached to the policy -An insurer may not use suicide as a defense against payment after the 2nd year

Study Texas Life Insurance using smart web & mobile flashcards created by top students, teachers, and professors. Prep for a quiz or learn for fun! ... Life & Health Exam Questions, Texas Life & Health Exam Questions, Chapter 1: Completing the Application, Underwriting, and Delivering the Policy...

- 3 key Factors for life insurance: mortality, interest, and expense - Mode: the more frequently premium is paid, the higher the premium ... Effective date of coverage - if the premium is not paid with the application, the agent must obtain the premium and a statement of continued good health at the time of the policy delivery

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