Washington Life and Health (Disability) Questions and Answers Latest Update Graded A+
Question : An insured was injured as an innocent bystander
when someone committed a felony. The insurer is
CORRECT ANSWER : liable for the loss
Question : A whole life insurance policy accumulates cash
value that becomes
CORRECT ANSWER : the policy loan value which the
insured may borrow against
Question : What may be the result of replacing an existing life
insurance policy with a new one?
CORRECT ANSWER : Surrender charge
Question : How soon can the benefit payments begin with a
deferred annuity?
CORRECT ANSWER : A minimum of 12 months after date
of purchase
Question : In what part of an insurance policy are policy
benefits found?
CORRECT ANSWER : Declarations
Question : What does the word "level" in Level Term
describe?
CORRECT ANSWER : the Face amount
Question : Which settlement option pays a stated amount to
an annuitant, but no residual value to a beneficiary?
CORRECT ANSWER : life income
Question : Kathy pays a monthly premium on her health
insurance policy. How long is her grace period?
CORRECT ANSWER : 10 days
Question : An example of endodontic treatment is a
CORRECT ANSWER : root canal
Question : Any transaction in which new life insurance is
purchased and, as a result, the existing life insurance will be surrendered is called
CORRECT ANSWER : replacement
Question : An insurer must submit all policy forms and
applications to the Commissioner at least __ days before they can be used.
CORRECT ANSWER : 30 days
Question : HIPAA considers which of the following as
"individually identifiable health information"?
CORRECT ANSWER : A person's health claim information
Question : David submits a $500 claim for medical expenses.
There is a past-due amount owed for insurance premiums of $200. As a result, the insurer only pays $300 for the claim.This deduction came as a result of which provision?
CORRECT ANSWER : unpaid provision
Question : The open enrollment period for Medicare
Supplements begins at age
CORRECT ANSWER : 65
Question : If an insurer terminates a producer's appointment,
it must notify the Commissioner within ___ days of the termination.
CORRECT ANSWER : 30
Question : Written notice of a health (disability) insurance
claim should be given to the insurer within __ days after the occurrence of any loss covered by the policy.
CORRECT ANSWER : 20
Question : Which of the following types of deductibles would
apply a single deductible to both medical and dental insurance coverage?