New York Accident Health Insurance Latest

New York Accident & Health Insurance Latest Update - Questions with 100% Verified Correct Answers Guaranteed A+ Verified by Professor

Accellerated Death benefits can effect - CORRECT ANSWER: whether you get public

assistance program help

• information about the effects on the policy of accellerated death benefits must be

shown to the policy holder

Adjuster License - CORRECT ANSWER: acts on behalf of th insurer to investigata and sjust claims arising under insurance contracts issued by the insurer

Advertising - CORRECT ANSWER: All ads must state the insurance co's name and the city town or village where it maintains its principal office in the us.

• an insurer may not advertise its financial condition without stating its assets, liabilities,

suprlus and legal reserves

• coannot inclue the fact that the life insurance company guaranty corp will protect a

consumers interest in a life insurance policy

• can not guarantee that a dividend is guaranteed

Advertising - CORRECT ANSWER: must contiain the name of the insurance company

Agent Licesne - CORRECT ANSWER: Noone can sell insurance without license but you dont need to pass test if you are employees of licesed insurance agent wh do nt solicit, licensed attorneys, actuaries or cpas who provid ino, regular salaried implyees who devote little tie, an agent oof a graternal benefit society

• must be 18, pass 540 hr course
• pass state exam 1 / 2

• Application must be submiteed w in 2 years
• renewal every 2 years on birthday

Annuity Contract provision - CORRECT ANSWER: - grace period of 31 days

• incontestable after 2 years
• the contract with the applcation shall constitute the entire contract
• if the age of sex is mistated, th amount paybale or benefit accruing will be adjusted
• the insurer shall ascertain and apportion any divisible surpluss accruing on the

contract

• if any contract or certificate requiring payments to be made to the insurer that at any

time w in 3 years from the date of default, the contract shall be reinstated and the insurer will apy all overdue payments

• annuity contracts musts include provisions providing for non forfeiture benefits and

cash surrender

Appointment and Termination of Appointment - CORRECT ANSWER: All insureres myst

file a ciertificate of appointment in order to appoint insurance agents. Then you have 15 days to appoint a producer from the date the agency contract is executed. If you've been fired, you have 30 days to tell the super why you were fired and then the super has 15 days to send the info back to you confirming it,

Buyers guide - CORRECT ANSWER: must be given to applicant at or prior to the time an application is taken.

Certificate of appointment - CORRECT ANSWER: if a license is granted to an

corporation, , only the officers and directors named on the license can act as agents, but they can sub license agents. Every time a new agent comes on boad, they need a certificate of appointment from the state

Change of Address time frame - CORRECT ANSWER: a licensee has 30 days to inform

dept of insurance

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