PSIl Life,l Accident,l andl Healthl Insurancel Examl (Latestl 2025/l 2026l Update)l Prepl Q/Al |l Gradel A|l 100%l Correctl (Verifiedl Answers)
Q:l Whatl isl itl calledl whenl al lifel insurancel policyl paysl al multiplel ofl thel coveragel amountl whenl certainl typesl ofl accidentsl occur?
Answer:
multiplel indemnity
Q:l Uponl thel issuancel ofl al conditionall receiptl forl al renewall whenl thel premiuml isl paidl AFTERl thel timel grantedl byl thel insurer,l whatl isl thel maximuml amountl ofl timel forl reinstatementl ofl thel policy?
Answer:
30l days
Q:l Whichl ofl thel followingl statementsl regardingl al purel lifel annuityl payoutl optionl isl correct?
Answer:
Thisl optionl providesl thel highestl monthlyl income.
Q:l Whichl ofl thel followingl doesl notl applyl tol thel timel limitl onl certainl defensesl provisionl inl healthl insurancel policies?
Answer:
fraudulentl misstatements
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Q:l Ifl anl individuall isl insuredl byl bothl theirl ownl healthl insurancel policyl andl theirl spouse'sl policy,l whichl policyl paysl firstl inl thel eventl ofl anl illness?
Answer:
Thel individual'sl policyl paysl first,l thel spouse'sl policyl paysl thel remainingl upl tol coveragel amount.
Q:l Whenl canl thel premiumsl ofl anl individuallyl ownedl healthl insurancel policyl bel deductedl froml thel individual'sl incomel tax?
Answer:
whenl thel taxpayer'sl unreimbursedl medicall expensesl exceedl 7.5%l ofl adjustedl grossl incomel duringl al taxablel year
Q:l Whenl thel suicidel clausel isl insertedl inl al lifel insurancel contract,l deathl byl suicidel isl notl coveredl duringl thel policy'sl initial
Answer:
2l yearl period.
Q:l Whichl ofl thel followingl isl al characteristicl ofl Healthl Maintenancel Organizationsl (HMOs)?
Answer:
preventivel care
Q:l Thel lifel insurancel policyl willl notl bel trulyl effectivel untill alll ofl thel followingl occurl EXCEPT
Answer:
thel producerl hasl explainedl thel policyl tol thel client.
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Q:l Underl whichl situationl mustl insurablel interestl existl betweenl thel applicantl andl insuredl atl thel timel ofl application?
Answer:
whenl al third-partyl applicantl namesl themselvesl beneficiary
Q:l Whichl ofl thel followingl isl al distinguishingl featurel ofl al variablel lifel insurancel policy?
Answer:
Thel cashl valuel earningsl arel basedl onl thel performancel ofl thel separatel account.
Q:l Thel personl whol receivesl thel benefitl ofl anl annuityl isl knownl asl the
Answer:
annuitant.
Q:l Whichl ofl thel followingl isl anl examplel ofl al premiuml paymentl mode?
Answer:
annuall premiuml payment
Q:l Howl dol mostl disabilityl policiesl handlel thel casel ofl al recurrentl disabilityl occurringl atl leastl 90l daysl afterl thel firstl claim?
Answer:
itl mustl bel handledl asl al newl claiml forl al newl periodl ofl disability,l requiringl al newl eliminationl period.
Q:l Whichl ofl thel followingl isl truel forl mostl comprehensivel dentall policies?
Answer: 3 / 4
Routinel carel isl providedl withoutl coinsurancel orl deductibles.
Q:l Underl al Medicarel Supplementl Policy,l preexistingl conditionsl CANNOTl bel excludedl afterl howl manyl monthsl froml thel effectivel datel ofl thel policy?
Answer:
6l months
Q:l Whatl doesl anl applicationl forl insurancel contractuallyl representl forl thel insured?
Answer:
anl offer
Q:l Whichl ofl thel followingl isl exemptedl froml thel incontestabilityl provisionl inl insurancel policies?
Answer:
fraudulentl misstatements
Q:l Whichl ofl thel followingl mayl bel thoughtl ofl asl al timel deductiblel ratherl thanl al dollarl deductiblel inl al disabilityl incomel policyl becausel benefitsl arel notl payablel duringl thatl time?
Answer:
eliminationl period
Q:l Howl longl afterl beingl entitledl tol Sociall Securityl disabilityl benefitsl willl anl individuall bel eligiblel tol receivel Medicarel benefits?
Answer:
2l years
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