all of the following would be considered rebating except

Assuming that a policy does not contain an unconditional refund provision of at least 10 days, when must a Buyer's Guide and policy summary be provided? B Stock Company The insured had his wife named as the beneficiary of his life insurance policy. Describe the relationship between potential difference and electrical potential energy. (Example) A man purchased a $90,000 annuity with a single premium, and began receiving payments 2 months after that. A Defamation If the father becomes disabled, what will happen to the life insurance premiums? The applicant must file a certificate of completion of the prelicensing courses taken to prove that the courses were not taken more than 12 months before the Commissioner received the application. Upon receipt of notice of appointment, the commissioner must verify the insurance producer is eligible for appointment within how many days? When an employee terminates coverage under group insurance policy, coverage continues in force for how long? C Cease and desist order Variable life insurance is regulated by..: Equity Indexed Annuities invest on an aggressive basis in order to yield higher returns. Search for an answer or ask Weegy. C Misrepresentation the spouse of a retiring insurance producer In the best interests of the client, rebates are allowed. An agent's license may also be suspended or revoked. Weegy: A basic position in American foreign policy has been that America must defend its foreign interests related to Weegy: 15 ? D. Commissioner. When the policyowner specifies dollar amount in which installments are to be paid, he/she has chosen which settlement option? A man decided to purchase a $100,000 Annually Renewable Term Life Policy to provide additional protection until his children finished college. The purpose of the Tennessee Guaranty Association is to. An agent offers his client free tickets to a sporting event in exchange for the purchase of an insurance policy. Cradle. He never remarried and dies at age 61, leaving 2 grown-up children. B Twisting. WINDOWPANE is the live-streaming app for sharing your life as it happens, without filters, editing, or anything fake. How long must an insurer keep a copy of an authorized form in its records? Candidates for either a property license or a casualty license must complete how many hours of pre-licensing education? Dividends paid to policyholders of a mutual insurer are not considered to be a rebate because the policy specifies that they might be paid. A fixed annuity is fixed in the sense that it provides a guaranteed minimum rate of interest and income payments that do not vary from one to the next. An insured under a life insurance policy has been diagnosed with a terminal illness and has 6 months to live. Like a fixed annuity, EIA's have guaranteed minimum interest rates, also less risky than variable annuities, the insurance company also keeps a percentage of the returns. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. Unless revoked or suspended how long does a producers license remain in effect in Tennessee? A What percentage of a company's employees must take part in a noncontributory group life plan? According to the Fair Credit Reporting Act, all of the following would be considered negative information about a consumer: The four essential elements of all legal contracts: The Medical Information Bureau (MIB) was created to protect? A father purchases a life insurance policy on his teenage daughter and adds the Payor benefit rider. 60 days. A participating insurance policy will pay _________ to the owner based upon actual mortality cost, interest earned and costs. Juan is the person employees go to when knowledge of a topic was needed. In life insurance policies, cash value increases. All the following could be considered rebates if offered to an insured in the sale of insurance except? Company Information; FAQ; Stone Materials. Discrimination. An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. Considered to be the average risk; representative of the majority of people in their age and with similar lifestyles, Insurers (this is so the insurers can compare the info that have collected on the individual). And insured has a modified endowment contract. June 14, 2022; jeep renegade 4x4 usata francoforte sul meno; astrological predictions for trump 2022 . He died on February 28. there is no provision in the insurance code that allows for a temporary licensed to be issued on behalf of a producer. It is the premium paying period that is limited, not the maturity. An investor buys a life insurance policy on an elderly person in order to sell it for a life settlement.. what is this an example of? A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. The triple indemnity rider in the policy specifies that the death must not be contributed to by the insured in any manner. The designee of a producer that is called to active service with the Navy. Paid cash to cover desk purchased on account. D$5. Expert answered|GaelM|Points 4547| Log in for more information. If an insured continually uses the automatic premium loan option to pay the policy premium. What statement about a suicide clause in a life insurance policy is true? D An offer of employment. A Misdemeanor An employee quits her job where she has a balance of $10,000 in her qualified plan. An insured has chosen joint and 2/3 survivor as the settlement option. standard form contract facebook; how to treat mange in cats at home twitter; moon drop grapes uk instagram; arrow olivia sewing table youtube; custom teku glassware mail What can they do? A For an individual who is NOT covered by an employer-sponsored plan, IRA contributions are, Amount of coverage is determined according to nondiscriminatory rules, individuals covered, under the policy receive a certificate of insurance, certificate holders may convert coverage to an individual policy without evidence of insurability. Age B Twisting And employee quits her job where she has a balance of $10,000 in her qualified plan. Although the appointment is made by the head of the Insurance Department, that person leaving the office does not terminate existing appointments. Which of the following would be required to complete pre-licensing education? When a producer was reviewing a potential customer's coverage written by another company, the producer made several remarks that were maliciously critical of that other insurer. Last year, she received a dividend check from the insurance company that was not taxable. What is this called? Will result in having to pay the highest premium due to health, history, habits, etc. What will she need to provide for proof of insurability? After five years, she decides to leave the company and work independently. Who can make a fully deductible contribution to a traditional IRA? C C. Rebating. User: 3/4 16/9 Weegy: 3/4 ? This is considered to be an unfair claim settlement practice = 2 1/4. A licensee must inform the Commissioner of a change of legal name or address within 30 days of the change. A policy will pay the death benefit if the insured dies during the 30-year premium-paying period, and nothing if death occurs after the 20-year period. If a producer discusses policy dividends in a sales presentation, what statement must the producer also make? Asked 10/30/2021 2:23:39 PM. He wants to withdraw some money in order to pay medical bills. Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed period, during which, if the original dies, the payments will continue to a designated beneficiary? D A termination issued by the appointing insurer. Discriminating in benefits based on the insured's habits and lifestyle (such as smoking or dangerous hobbies) is acceptable. The regulation of the insurance industry primarily rest with. B In the preceding 2 years. An insured misstates her age at the time the life insurance application is taken. Purest form of term insurance; death benefit remains level, but the premium increases each year with the insured's attained age. Under a variable annuity, the issuing insurance company does not guarantee a minimum interest rate or the benefit payment amounts. B Advertise & solicit business as an insurance counselor or consultant 16/9 = Weegy: Whenever an individual stops drinking, the BAL will decrease slowly. A. B Suspension of authority In Michigan the state's continuing education requirement B An offer to share in commissions generated by the sale. If an insured withdraws a portion of the death benefit by the use of this rider, the benefit payable at death will be reduced by that amount plus.. Regarding the free-look provision, the insurance company.. What happens when a children's rider is added to an insured's permanent life insurance policy? A Adverse selection If a policy includes a free-look period of at least 10 days, the Buyer's Guide must be delivered to the applicant What policy component decreases in decreasing term insurance? There are just too many details and specifications which you must be certain of when looking for one. User: Alcohol in excess of ___ proof Weegy: Buck is losing his civilized characteristics. Which of the following would be considered false advertising? = 2 5/20 Group life insurance is a single policy written to provide coverage to members of a group. When a life insurance policy is cancelled and the insured has selected the extended term nonforfeiture option, the cash value will be used to purchase term insurance that has a face amount. Nonforfeiture values guarantee which policyowner? If the corporation collects the policy benefit, then. Which of the following would NOT have a policy loans provision? Y was killed in an automobile accident on August 22, before the policy was issued. C New answers. Which of the following is an example of a producer being involved in an unfair trade practice of rebating? 1 to 50. Before the Director will issue a license, a person must meet all of the following qualifications EXCEPT a. If an individual licensee's violation of the entrance code was known or should have been down by one or more of the partners, officers, or managers of the agency, what could happen to agency? All of the following would be considered to be rebating EXCEPT? C A reasonable understanding of the provisions, terms, and conditions of the type of insurance he/she wishes to counsel. B. the designee of a licensed insurance producer who enters active duty in the US Armed Forces Their daughter is reaching the maximum age of dependent coverage, so she will have to convert to permanent insurance in the near future. What describes the tax advantage of a qualified retirement plan? Which is NOT required of an applicant for an insurance license in Michigan? Department of Education. B 60 days C Law of large numbers Example: the insured under a $100,000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident. A tax-sheltered annuity is a special tax-favored retirement plan available to. A 15 Heterotrophs (like humans) ingest 19) Juan is the person employees go to when knowledge of a topic was needed.Juanholds ________ power.A) legitimateB) rewardC) referentD) expert. What is the required percentage of participants in a contributory group plan? This practice is considered Texas All Lines Adjuster Test - Questions And Answers-Accumulated Depreciation - The total decrease in an item's value over a period of time. In order to receive a commission, a person is required to How many accounts must to Tennessee life and health insurance Guaranty association maintain? Permitting individuals of the same class to be charged a different rate for the same insurance is the unfair trade practice of discrimination. 0. Death benefits payable to a beneficiary under a life insurance policy are generally. A 30 days The company is guilty of All of the following would be considered to be rebating EXCEPT A) An agent offers to share his commission with a policyholder B) An agent offers tickets to a baseball game as an inducement to buy insurance C) An agent uses misrepresentation to convince a person to cancel an existing policy and take a new policy from him What is true concerning a buy-sell agreement? Explaining to client the advantages of permanent insurance over term and suggesting changing policies. ________________ are owned and controlled by their policyholders. B C Twisting The dividend option that the insured has chosen is called? C It requires satisfactory completion of at least 24 hours of approved training every biennium. 30 The annual premium of $200 was due on February 1; however; the insured failed to pay the premium. A producer or broker who makes oral or written statements intended to injure another producer or insurer is guilty of the unfair trade practice of defamation. As the local coffee shop is just initiating the segmentation and targeting process, what has . A candidate for life insurance producer's license must complete how many hours of prelicensing education? He discovered that his policy.. The policy endows when the insured turns 100. B An agent offers to share his commission with a policyholder. An insured pays an annual premium to his insurer. a constant a term a variable an expression. When a persons only options for a contract are on a take it or leave it basis; prepared only by the insurer. She has decided that she would rather use the dividends to help pay for her next premium. The insured knows that his financial state will worsen even more with upcoming medical expenses. What happens to the premium on the children's rider in a life insurance policy? Contracts that are prepared by one party and submitted to the other party on a take it or leave it basis are classified as? B At least 3 hours must cover ethics. Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. Which of the following is possible? An insured purchased an insurance policy 5 years ago. How are contributions to a tax-sheltered annuity treated with regards to taxation? This pays 2 or 3 times the face amount if death is the result of an accident as defined in the policy and occurs within 90 days of such an accident. The policyowner of an adjustable life policy wants to increase the death benefit. C Charging applicants with similar health histories different premiums based on their ethnicity A In the preceding 12 months. Which type of life insurance policy allows the policyowner to pay more or less than the planned premium? A. B$1,000 C In the last 5 years. D Unfair Discrimination. All paid by the time the insured reaches age 65. D Engages in fraud. To ensure that his wife had income for life after the insured's death, he chose the life income settlement option. What is the clause that describes the method of paying the death benefit in the event that the insured and beneficiary are both killed in the same accident? Licensees who are currently licensed, and have recently become residents of the state of Michigan may not have to complete any prelicensing education. Issuing or circulating any sales material that is false or misleading would be considered misrepresentation and is illegal. 1 to 75. The insurer's surrender the policy at its current cash value. B Insurer financial requirements. If a resident insurance producer moves from Tennessee to another state, he/she must file a change of address and provide certification from the new resident state within how many days of the change of legal resident? What are the two components of a universal policy? D All of the following would be considered rebating except: sharing commissions with other licensed and appointed agents.

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