XCEL LIFE INSURANCE ALBAMA FINAL EXAM

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XCEL LIFE INSURANCE ALBAMA FINAL EXAM

NEWEST ACTUAL EXAM COMPLETE 100

QUESTIONS AND CORRECT DETAILED

ANSWERS (VERIFIED ANSWERS) |ALREADY

GRADED A+

Question: What benefit is Trent covered by when he is covered

by a residual disability benefit?

ANSWER: Trent is covered by a residual disability benefit

Question: What is the timeframe within which an insurer must

approve or deny a reinstatement application?

ANSWER: The insurer has to approve or deny within 45 days of

the date of application

Question: How can an insurance premium be defined?

ANSWER: An insurance premium can be defined as money

paid to an insurance company for benefits provided in the policy

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Question: What is the minimum renewability level of a Long

Term Care (LTC) policy?

ANSWER: A Long Term Care (LTC) policy has a minimum

renewability level of guaranteed renewable

Question: What must a Long Term Care insured be unable to

perform to receive benefits?

ANSWER: A Long Term Care insured must be unable to

perform a minimum of 2 Activities of Daily Living (ADLs) to receive benefits

Question: How long does a disability income rider typically pay

a monthly income?

ANSWER: Typically, a disability income rider will pay a

monthly income for as long as the insured remains totally and completely disabled

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Question: Who may an insured have health insurance benefits

paid to?

ANSWER: An insured may have health insurance benefits paid

to anyone designated by the insured

Question: What is guaranteed in a noncancellable disability

income policy?

ANSWER: The coverage and premium rate are guaranteed in

her policy

Question: What is the transfer of policy ownership called when

it involves a viatical settlement agreement?

ANSWER: A Viatical settlement agreement

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Question: Are eligible participants required to make premium

payments for any part of Medicare?

ANSWER: Eligible participants are required to make premium

payments for Part B of Medicare

Question: What can the insurer do under the Change of

Occupation Provision?

ANSWER: The insurer can adjust the benefits

Question: What does a long-term care policy cover regarding

residence?

ANSWER: Extended residence in a nursing home is covered by

a long-term care policy

Question: Which provision allows a disability income policy to

remain in force without further payments when the insured has become totally and permanently disabled?