Health License Exam with

Health License Exam with
answers
On April 9, an application is submitted without the initial premium. The insurer requires a
medical exam, and it is completed on April 14. On April 18, the insurer issued the policy, and the
producer delivers it on April 21. When is coverage effective?
Select one:
a. April 9
b. April 14
c. April 18
d. April 21, after the statement of good health is signed, and the initial premium is paid. -
answer Coverage begins on April 21, after the statement of good health is signed, and the initial
premium is paid.
Jeff and Mike own an architect firm with 20 employees and worry about the company if one of
them becomes permanently disabled. What type of policy should they buy?
Select one:
a. Individual disability
b. Business overhead expense
c. Disability buy-out
d. Key employee - answer They should buy a disability buy-out policy.
If an individual has a chronic medical condition, how is the insurer likely to handle this situation
when issuing an individual health policy?
Select one:
a. The insurer will issue a Waiver of Premium rider.
b. The insurer will exclude the condition with an Impairment rider.
c. The insurer will include a Double Indemnity rider.