Premium payments for a Universal Life policy are NOT used for which of the following?

Question 1

Question 1 of 5

Answer

A. Loading cost.

B. Death protection.

C. Separate account investments.

D. Cash value accumulation.

Question 2

Question 2 of 5

Answer

A. the covered person normally receives reimbursement for the service direct from the insurer.

B. it is generally not required that covered persons file claim forms.

C. a covered person may be responsible for an increased co-payment if they visit a non-network provider.

D. reimbursement may be denied if a covered person visits a specialist without a required referral.

Question 3

Question 3 of 5

Answer

A. provides a database for member companies to receive and report pertinent applicant information.

B. is sponsored by physicians that maintain a database available to insurance companies and medical practitioners.

C. maintains a public database with member insurance companies reporting data.

D. is a historical database purchased by member insurance companies seeking to enforce adverse underwriting decisions.

Question 4

Question 4 of 5

Answer

A. Disregard the premium change

B. Explain the rating adjustment

C. Recommend canceling the policy

D. Deliver without explanation

Question 5

Question 5 of 5

Answer

A. Contact the insurer to request such forms.

B. File written proof of loss.

C. Refile notice of loss within 20 days.

Premium payments for a Universal Life policy are NOT used for which of the following?

A. Loading cost.

B. Death protection.

C. Separate account investments.

D. Cash value accumulation.

All of the following apply to payment of claims on a managed care plan EXCEPT

A. the covered person normally receives reimbursement for the service direct from the insurer.

B. it is generally not required that covered persons file claim forms.

C. a covered person may be responsible for an increased co-payment if they visit a non-network provider.

D. reimbursement may be denied if a covered person visits a specialist without a required referral.

The Medical Information Bureau (MIB) is an organization which

A. provides a database for member companies to receive and report pertinent applicant information.

B. is sponsored by physicians that maintain a database available to insurance companies and medical practitioners.

C. maintains a public database with member insurance companies reporting data.

D. is a historical database purchased by member insurance companies seeking to enforce adverse underwriting decisions.

During the policy delivery process, a producer discovers the policy issued has a higher premium than initially quoted due to a rating adjustment. How should the producer proceed at the time of delivery?

A. Disregard the premium change

B. Explain the rating adjustment

C. Recommend canceling the policy

D. Deliver without explanation

According to the required provisions, what MUST the insured do if the insurer does NOT furnish forms to provide proof of loss to the insured within 15 days after the insured gives notice of loss?

A. Contact the insurer to request such forms.

B. File written proof of loss.

C. Refile notice of loss within 20 days.

D. No action is required.

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