Final Exam - Louisiana Life and Health / Complete Questions & Correct Detailed Answers (100% Correct) 2025 / 2026.Stretch your brain before your first study session Terms in this set (150) Learn7 / 1Study with Learn a person who has a contract with an insurance company to represent it Choose matching term 1 In which of the following situations would the insurer be liable for a loss?2 A single premium cash value policy can be described as 3 An insurance producer is BEST defined as 4 Which of the following would be considered a possible applicant and contract policyholder for group health benefits?Don't know? 1 / 4
When are group disability benefits considered to be tax-free to the insured?When the recipient pays the premiums An insurable interest in each other's lives may exist in absence of an economic interest when the individuals are Marriage partners What is the elimination period of an individual disability policy?Time period a disabled person must wait before benefits are paid What happens to interest earned if the annuitant dies before the payout start date?It is taxable In which of the following situations would the insurer be liable for a loss?The insured suffered an injury as an innocent bystander during a bank robbery In what form do disability income policies typically pay benefits?Periodic income Which of the following is typically NOT eligible for coverage in a group health policy?Temporary employee Which of the following would be considered a possible applicant and contract policyholder for group health benefits?Employer 2 / 4
A Medicare Supplement Policy is designed to fill in the gaps of Part A and Part B Medicare Under a Modified Endowment Contract, what are the likely tax consequences?Pre-death distributions will become taxable In a Long-Term Care policy, activities of daily living (ADL's) can be each of the following EXCEPT Talking Which of the following is an annuity that is linked to a market-related index?Equity-indexed annuity An insurer operating in the U.S. but headquartered outside the U.S. is an alien insurer Group dental plans will frequently place a limit on annual benefits in order to minimize adverse selection All of the following are considered to be fraud
EXCEPT
collecting a charge for insurance that is less than the charge applicable to that insurance A producer's license in Louisiana must be renewed every Two years 3 / 4
An insured has a health plan that pays established amounts in accordance with a list of injuries, surgical procedures, or other losses.This list is called a benefit schedule Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits must be the same and the premium cannot exceed 102% If a producer has been engaged in an administrative action by any governmental agency, within how many days following the final deposition must the producer report the action to the Commissioner?30 Ownership of a life insurance policy may be temporarily transferred with a(n) collateral assignment Under a Traditional IRA, interest earned is taxed upon distribution
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