Health Care > EXAM > MICHIGAN LIFE ACCIDENT AND HEALTH EXAM 2024 COMPLETE STUDY QUESTIONS WITH CORRECT VERIFIED ANSWERS G (All)
MICHIGAN LIFE ACCIDENT AND HEALTH EXAM 2024 COMPLETE STUDY QUESTIONS WITH CORRECT VERIFIED ANSWERS GUARANTEED PASS | RATED A+
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Joe has only paid 5 payments on his health insurance policy when he is hit by a car. The insurance company pays out nearly half a million to cover treatment for injuries. This is an example of: A. ... Contract of adhesion B. Aleatory contract C. Unilateral contract D. Utmost good faith - ANSWER-Correct answer - B, it is contingent on an uncertain event Leslie has a policy that will pay $100,000 if she dies before age 65 and $75,000 if she dies after age 65. She probably has what type of policy? - ANSWERMultiple protection policy The human life value approach to selling life insurance focuses on an individual's . - ANSWER-An individual's future stream of income. (Annual salary, expenses, years remaining until retirement, future value of current dollars) The needs approach to selling life insurance focuses on . - ANSWER-The needs of the survivors. (Funeral expenses, final illness, continuing family income, education) How long is the typical grace period? - ANSWER-31 days If Ben dies, Joan will receive the death benefit. If Joan had died before Ben, Toby would receive the benefit. Toby is what type of beneficiary? - ANSWERContingent beneficiary Health insurance is in force for newborns from birth and notification must be given within days of birth for coverage to extend beyond that point. - ANSWER-31 days An individual that is continually insured under a group policy for at least months may convert to an individual policy upon policy termination. - ANSWER-3 months [Show More]
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