Michigan Life And Health Final Exam Questions & Answers, 100% Rated (Complete And Verified Study material) (38pages) LEARNEXAMS

What amount will be paid under a policy where the insured misstated his/her age? - an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days - 30 days which of these is considered to be a Living benefit option in a life insurance policy - Accelerated death benefit loans obtained by a policy owner against the cash value of a life insurance policy - would not be treated as taxable income A long term care policy typically provides all of the following levels of care EXCEPT - acute care the elimination period under a hospital indemnity plan is - the specific # of days an insured must wait before becoming eligible to receive benefits for each hospitalization what is an insurance policy's grace period? - Period of time after the premium is due but the policy remains in force How do interest earnings accumulate in a deferred annuity - On a tax-deferred basis a licensee who is required to take continuing education Must include how many ethics coursework hours - 3 the automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value the amount of - Past due premiums that have not been paid by the end of the grace period health insurance involves two perils, accident and ______ - sickness Who is responsible for assembling the policy forms for insureds - Insurance carriers a securities license is required for a life insurance producer to sell - variable life insurance Which of the following is NOT an illegal inducement - giving the insured an article of merchandise printed with the producers name costing 5$