Xcel Study guides, Class notes & Summaries

Xcel solutions final exam Maryland Life and health questions and answers 100% pass What is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? A reduction in benefits A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a Risk retention group During the application process, a statement made by an applicant that becomes part of the contract is considered to be a(n) Warrant...

An earned premium resulting from the cancellation of a policy is calculated on: - On a pro rata basis, based on the previous year's rate M owns a parking garage & has coverage that states: "We will cover losses regardless if you are legally liable for the loss." This no-fault ideology will be found under: - Excess Direct Coverage An insurance company writing business in a state other than the one in which it is domiciled is called: - a Foreign Y is running a home daycare out of their home ...

Xcel Testing Solutions Life and Health Insurance Weighted Exam 150 Questions with 100% Correct Answers | Verified | Latest Update 2024

XCEL FINAL STUDY LOUISIANA LHA INSURANCE 2024 QUESTIONS & ANSWERS SOLVED 100% CORRECT!!

Xcel Solutions Final Exam 2024 with Complete Solutions. Insuring Which health policy clause specifies the amount of benefits to be paid - ANSWER Insuring The investment gains from a universal life policy usually go to - ANSWER The cash value L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the applicant misstated their age. What will the insurer do? - ANSWER Adjust the death benefit to a reduced amount An employee is cover...

Xcel Solutions Final Exam 2024 with Complete Solutions. Insuring Which health policy clause specifies the amount of benefits to be paid - ANSWER Insuring The investment gains from a universal life policy usually go to - ANSWER The cash value L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the applicant misstated their age. What will the insurer do? - ANSWER Adjust the death benefit to a reduced amount An employee is cover...

Xcel Solutions Final Exam 2024 with Complete Solutions. Insuring Which health policy clause specifies the amount of benefits to be paid - ANSWER Insuring The investment gains from a universal life policy usually go to - ANSWER The cash value L takes out a life insurance policy and dies 10 years later. During the claim process, the insurer finds out that the applicant misstated their age. What will the insurer do? - ANSWER Adjust the death benefit to a reduced amount An employee is cover...

a nonparticipating company is sometimes called a - Answer-stock insurer Fraternal Benefit Society has each other the following characteristics except - Answer-exist for profit The Fair Credit and Reporting Act's main purpose is to - Answer-protect consumers with guidelines regarding credit reporting and distribution A life insurance company has transferred some of its risk to another insurer. The insurer assuming the risk is called the - Answer-reinsurer What kind of life insurance ...

____________ is NOT an element of a valid contract. - Answer-Taxable income. Disability insurance benefits from a group policy paid for by an employer is considered taxable income. "maximum benefits" refers to the - Answer-upper limit of the total lifetime benefits the insurance company will pay A business will typically use which type of life insurance to cover their employees? - Answer-Group policy A clause that allows an insurer the right to terminate coverage at any anniversary...

Irrevocable beneficiary - Answer-What kind of life insurance beneficiary requires his/her consent when a change of beneficiary is made? Anytime - Answer-When can a policy-owner change a revocable beneficiary? Daughter - Answer-K has a life insurance policy where her husband is beneficiary and her daughter is contingent beneficiary. Under the Common Disaster clause, if K and her husband are both killed in an automobile accident, where would the death proceeds be directed? 0 - Answer-T an...

K has a life insurance policy where her husband is beneficiary and her daughter is contingent beneficiary. Under the Common Disaster clause, if K and her husband are both killed in an automobile accident, where would the death proceeds be directed? - Answer-Daughter When is a Group Health policy required to provide coverage for a newborn child? - Answer-At the moment of birth What is the required renewability status of all Medicare supplement policies? - Answer-Guaranteed renewable Who ...