Victor, age 59, calculated last year's gross income to be $100,000. When reviewing the cost of his various personal insurance policies, he found that his disability income policy annual premium was $3,500, his long-term care insurance annual premium was $4,000, and the total annual cost of his individual Medical insurance premiums and out-of-pocket medical expenses came to $5,500. Based on this information, he could deduct ______ from his taxable income for that year. All of the following are required to sign an application for insurance except: Which of the following is an example of risk reduction? Which of the following IS NOT part of the definition of "insurable risk"? J took out a life policy when he was 35. It had a conversion feature that he exercised at age 45. Age 45 is referred to as his ____ age. A participating policy is likely to have which of the following? If Alvin purchases a Variable
Universal Life Policy with a face amount of $250,000, and chooses death benefit Option B, upon his death the amount of the benefit payable to the beneficiary would be _________ if the policy had $25,000 in cash values. K has a loan of $5,000 outstanding against her $25,000 traditional whole life policy. If K dies, how much will her beneficiaries receive? What will cause the time period of the fixed amount settlement option to be extended? If a lump sum from a lawsuit, a lottery winning, or inheritance, is used to purchase a guaranteed lifetime
income. It is referred to as a ___________. All of the following regarding credit life are true, except: ERISA requires which of the following? ____________ is the initial
step of the total process of insuring a health risk. All of the following are factors used in the calculation of health insurance premiums, except: Concerning PPOs, which is a true statement? Attaching a(n) ___________ rider excludes coverage for a condition that would otherwise be covered. Which of the following is correct concerning an LTC policy? All of the following are examples of cost containment and managed health care, except: When an agent misleads the public in an advertisement, who is held accountable? Premiums paid by
employees for group health insurance are only deductible to the extent that ______________________. All of the following are ways consumers can insure themselves with 'minimum essential coverage' without having to pay a penalty under the Affordable Care Act, except: If an insurance company accepts business from a person that is not currently appointed and who is not licensed for that line of business,
which of the following applies? Sets with similar terms |