which of the following best describes a conditional insurance contract

A) implied authority What Benefit Does The Payor Clause On A Juvenile Life Policy Provide? According to the Affordable Care Act (ACA), insurers can no longer deny health coverage due to pre-existing conditions unless that plan is a (n) Grandfathered plan Accident plan Individual plan Group plan Grandfathered plan D) Insurance producers, If a material warranty violation on the part of the insured is found, what recourse does an insurer have? Q. C) Only the insurer is legally bound A contract that requires certain conditions or acts by the insured individual This means that the insurer's promise to pay benefits depends on the occurrence of an event covered by the contract. A) Insurability producer The two major actions required for a policyowner to comply with the Reinstatement Clause are, Provide evidence of insurability, pay past due premiums, The term which describes the fact that both parties of a contract may NOT receive the same value is referred to as. C) insurer express authority All of these are typically sources of underwriting information for life or health insurance EXCEPT. C) Aleatory 0 Answers/Comments. Which of the following best describes a symbol. This rider is called a(n). A(n) ________ investigates, negotiates, and settles claims for a few on behalf of an insurance company. Utah requires that an insurance producer must complete ___ hour(s) of continuing education on the subject of law and ethics every reporting period. 2 See answers Which of the following best describes the MIB? The death benefit paid will be what the premium would have purchased at the correct age, Converting a group plan to permanent life insurance requires, The conversion being applied for within 31 days of termination. Both partners are still married at the time of Bob's death. B) Contract of adhesion The policy may be paid up early by using accumulated cash values The policy may be paid up early by using policy dividends The policy's premiums will increase after 20 years The policy's cash values steadily decrease after 20 years, the policy would be payable, minus the premium amount, If an insured dies during the grace period with no premiums paid the policy would be payable, minus the premium amount the policy would be payable only after the beneficiary makes past due premium payment all past premiums will be refunded with interest the claim would be denied, In what part of an insurance policy are policy benefits found? Adjustable life policy Variable universal policy Universal policy Modified whole life policy, A securities license is required for a life insurance producer to sell modified life insurance Modified Endowment Contracts (MEC) variable life insurance universal life insurance, The shorter the payment period, the higher the premium, The statement which best describes the relationship between the premiums of a whole life policy and the premium payment period is The shorter the payment period, the lower the premium The longer the payment period, the higher the premium The shorter the payment period, the higher the premium The payment period has no affect on the premium payment, Policyowner has the right to select the investment which will provide the greatest return, Variable life insurance and Universal life insurance are very similar. Updated 10/6/2017 9:10:03 AM. Connect with others, with spontaneous photos and videos, and random live-streaming. D) collateral, Express power given to an agent in an agency agreement is B) Period to which the coverage exists What is the name of the provision which states that a copy of the application must be attached to the policy when issued? Incontestable period Probation period Reinstatement period Grace period, The benefit can be offered as a rider at a specific extra cost or may be at no cost, Which of these is NOT a characteristic of the Accelerated Death Benefit option? A) Express D) Conditional, Which of the following is NOT a requirement of a contract? An insurer exaggerating its dividends in a magazine advertisement. After a number of years, the policy's cash value accumulates to $50,000 and the face amount becomes $350,000. A double indemnity benefit will be payable to Matts beneficiary is Matt, All of the following riders can increase the death benefit amount EXCEPT, All of these are valid policy dividend options for a life insurance policyowner EXCEPT, The premium for a Modified whole life policy is, Lower than the typical whole life policy during the first few years and then higher than typical for the remainder, A nonparticipating company is sometimes called a(n), Intentional withholding of material facts that would affect an insurance policys validity is called a(n), Signatures for an insurance application MUST be obtained by the producer from all of the following sources EXCEPT. C) fiduciary trust A contract that requires certain conditions or acts by the insured individual. aleatory Which type of life insurance policy is this? (C) Both parties exchange goods of equal value. fichoh. A) A contract that requires certain conditions or acts by the insured individual Proof of insurabiilty Changes in the insuring clause Premium increase Premium decrease, What is the name of the provision which states that a copy of the application must be attached to the policy when issued? Insurer's promise to pay benefits Peril Hazard Loss factor Liability, Which of these techniques will remove the risk of losing money in the stock market by never purchasing stocks? collateral, What is implied authority defined as? term, whole, and universal life insurance increasing term insurance joint, credit, and group life insurance adjustable, permanent, and limited-pay life insurance, Peter has a policy where 80% to 90% of the premium is invested in traditional fixed income securities and the remainder of the premium is invested in contracts tied to a stipulated stock index. D) Business owner and business client, Under a contract of adhesion, y=f(x)=10x5x+1535if0x3if3

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