all of the following would be considered rebating except all of the following would be considered rebating except

Old-age and retirement benefits, disability benefits, death benefits. Which of the following allows different operating systems to coexist on the same physical computer? During replacement of life insurance, or replacing ensure musky which of the following? What does this mean? Unintentional misspellings are not a misrepresentation. Rebating is the practice of returning a percentage of the payment or the agent's/fee broker's on the charge to the covered, as well as additional motivators to do company with a certain insurer. The agent is guilty of He died on February 28. To be able to pay some of her medical bills, she withdraws a portion of the policy's cash value. A. A man decided to purchase a $100,000 Annually Renewable Term Life Policy to provide additional protection until his children finished college. This plan would be funded with before-tax corporate dollars, and it does not meet government approval standards. MI Life Insurance Policy Provisions, Options, Federal Tax Considerations for Health Insuran, Qualified Plans, and Federal Tax Consideratio, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition. Individuals covered under the policy receive a certificate of insurance, certificate holders may convert coverage to an individual policy without evidence of insurability, and amount of coverage is determined according to non discriminatory rules. Forcing a client to buy insurance from a particular lender as a condition of granting a loan is defined as Which of the following has not been taken to court for further interpretation? What type of policy is this? Formula: (Ann . B In the preceding 2 years. When the application is signed and a check is given to the agent, The insurer's domicile of location of incorporation will determine whether a company is domestic, foreign, or alien. An individual who willfully violates this Act enough to constitute a general pattern or business practice will be subject to a penalty of up to. Insureds who have been classified as preferred risk will On a participating insurance policy issued by a mutual insurance company, dividends paid to policyholders are. Thanks for choosing us. The producer could be found guilty of What determines the amount of each installment paid in a life income option arrangement? A Which policy component decreases in decreasing term insurance? Which of the following is a true statement regarding taxation of the accelerated benefits? When twin brothers applied for life insurance from company a, the company found that while neither of them smoke and both had a very similar lifestyle, one of the twins was in a much stronger financial position than the other. B Vscode No server install found in WSL, needs x64. B Coercion. Telling a client that his first premium will be waived if he purchases the insurance policy today. D False financial statement. All of the following are true regarding rebates EXCEPT. An insured owns a life insurance policy. The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When producers give or promise anything of value that is not specified in the policy, they are guilty of rebating. Ownership is the difference between these two companies. Heterotrophs (like humans) ingest 19) Juan is the person employees go to when knowledge of a topic was needed.Juanholds ________ power.A) legitimateB) rewardC) referentD) expert. A salaried full-time employee who furnishes information for group insurance In which instance would the premium be tax deductible? C. Address The policyowner of a Universal Life Policy may skip paying the premium and the policy will not lapse as long as.. A policy will pay the death benefit if the insured dies during the 20-year premium-paying period, and nothing if death occurs after the 20-year period. Which of the following will NOT be considered unfair discrimination by insurers? After 5 years, she decides to leave the company and work independently. If a policy had an automatic premium loan provision, what happens if the insured dies before the loan is paid back? A 40 year old man buys a whole life policy and names his wife as his only beneficiary. Corporation is the owner and beneficiary of the key person life policy. Employees must receive a minimum of $5,000 in annual compensation, no other qualified plan can be used, no more than 100 employees. C$2,000 Added 30 days ago|10/30/2021 2:46:29 PM. Obtain appropriate signatures on the application for insurance, help prevent adverse selection, and solicit business that will fall within the insurer's underwriting guidelines. What is the primary purpose of a 401(k) plan? A Temporary And any controversy between the insured or the insured's beneficiary and the insured that arises from the application for insurance of any policy issued a connection with the application, the producer is considered to be the agent and which of the following? A domestic insurer issuing variable contracts must establish one or more.. The balance is paid out directly to the employee in order for her to move the funds to a new account. An insured receives an annual life insurance dividend check. When a persons only options for a contract are on a take it or leave it basis; prepared only by the insurer. D 120 days. B Unfair claim practice. If an applicant has been licensed in the past 12 months, the Commissioner may waive education and examination requirements. Define electric potential and electric potential energy. A It allows for up to 15 excess credit hours to be carried forward to the next reporting period. C 90 days The president of a company is starting an annuity and decides that his corporation will be the annuitant. C Limited lines Although the appointment is made by the head of the Insurance Department, that person leaving the office does not terminate existing appointments. What determines the length of time that benefits will be received under the fixed-amount settlement option? Replace the underlined word with the correct form, How do you play Roblox on a Chromebook without downloading it. This misstatement may result in? D Felony. The 3 risk classifications used by underwriters for life insurance, Selection, classification, and rating of risks, To allow the consume to compare the costs of different policies. A producer or broker who makes oral or written statements intended to injure another producer or insurer is guilty of the unfair trade practice of defamation. Defamation is making statements that are false as to the financial condition of any insurer and which are calculated to injure any person engaged in the business of insurance. = 15 ? launchpad classlink nmusd; cantonese text to speech; 15 second tv commercial script examples D 10. Which of the following, upon conviction, carries a fine of up to $2,000 for each violation? And employee quits his job and converts his group policy to an individual policy; the premium for the individual policy will be based on his All of the following would be different between qualified and nonqualified retirement plans: An employee has group life insurance through her employer. An agent's license may also be suspended or revoked. All the following could be considered rebates if offered to an insured in the sale of insurance except? Therefore, in the other types of level policies, the first-year premium would not be different from any other year. What describes the tax advantage of a qualified retirement plan? Gender The president of a manufacturing company has offered one of the company's officers a special individual annuity plan that is unavailable to lower-echelon employees. B Twisting Azanswer team is here with the correct answer to your question. D Surplus lines. B At least 3 hours must cover ethics. All of the following concerning a non-contributory group plan is true: What is an IRS qualified retirement program for the self-employed? What is true regarding a non-qualified retirement plan? Requires the entire premium to be paid in one limp sum at the policy's inception. What is being defined as the degree to which something is related or useful to what is happening or being talked about? C Dividends from a mutual insurer. An insurer publishes intimidating brochures that portray the insurer's competition as financially and professionally unstable. When does the policy coverage become effective? all of the following would be considered rebating except. Which of the following is an example of a producer being involved in an unfair trade practice of rebating? Which of the following would NOT be considered rebating? An insured had a $10,000 term life policy. C And employee has group life insurance through her employer. A Discrimination. D The passing of a written examination. Group life insurance is a single policy written to provide coverage to members of a group. As a condition for renewal of their licenses, how many hours of continuing education required for all resident and nonresident insurance producers? 3. Upon the death of the insured, the primary beneficiary discovers that the insured chose the interest only settlement option. He discovered that his policy.. D Adverse selection. A Unfair claims B Stock Company For each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms. A key person insurance policy can pay for which of the following? Rating. -is what's meant by the phrase "The domesticated generations fell Weegy: A suffix is added to the end of a word to alter its meaning. What must be presented before an applicant submits a premium? Death benefits payable to a beneficiary under a life insurance policy are generally. ________________ are owned and controlled by their policyholders. In a life settlement contract, whom does the life settlement broker represent? Candidates for either a property license or a casualty license must complete how many hours of pre-licensing education? In decreasing policies, while the face amount decreases, the premium remains constant throughout the life of the contracts. C Sharing commission with the insured What can they do? D Misrepresentation. Which of the following would NOT have a policy loans provision? B For an individual who is not covered by an employer sponsored plan, IRA contributions are What is correct concerning a non contributory group plan: To attain currently insured status under Social Security, a worker must have earned at least how many credits during the last 13 quarters? What is the required percentage of participants in a contributory group plan? A Defamation In level term and increasing term policies, the premium also remains level for the term of the policy. Are you having trouble answering the question Rebating is an unfair trade practice and is regulated by law. 60 days. Which of the following is NOT a pathway in the oxidation of glucose. I no the truth.Ans: I know the truth.(2). An agent who deliberately makes a malicious statement about another insurance company is guilty of an illegal trade practice called. B B Legal, provided that the other insurers are paid royalties for the usage of their names c) Dividends are not considered to be rebates. All of the following would be considered rebating except. If an insured withdraws a portion of the death benefit by the use of this rider, the benefit payable at death will be reduced by that amount plus.. This annuity plan is What is true regarding taxation of accelerated benefits under a life insurance policy? This is considered to be false, deceptive or misleading advertising. Any inducement offered to the insured in the sale of an insurance policy that is not specified in the policy is an unlawful practice known as D Must be completed by all licensed resident and nonresident producers. A licensee must inform the Commissioner of a change of legal name or address within 30 days of the change. Y was killed in an automobile accident on August 22, before the policy was issued. A$500 An applicant for a counselor's license must possess a reasonable understanding of the provisions, terms, and conditions of the type of insurance he/she wishes to counsel, as well as a reasonable understanding of the Michigan insurance code and possess a good business reputation and good moral character. All of the following would be considered to be rebating EXCEPT A) An agent offers to share his commission with a policyholder B) An agent offers tickets to a baseball game as an inducement to buy insurance C) An agent uses misrepresentation to convince a person to cancel an existing policy and take a new policy from him C A If the corporation collect the policy benefit, then. The bank is prepared to offer the loan but only if the customer purchases a life insurance policy from the bank in the amount of the loan. Which of the following would be considered an illegal inducement to purchase insurance? Beneficiaries do not have to have an insurable interest in the policyholder. C 7 User: 3/4 16/9 Weegy: 3/4 ? B. Defamation. f. Get an answer. When an employee terminates coverage under group insurance policy, coverage continues in force for how long? What relationship is not an example of insurable interest? What is this called? What policy would have an IRS required corridor or gap between the cash value and the death benefit? D Unfair Discrimination. The following are nine technical accounting terms introduced or emphasized in this chapter: ResponsibilitymarginTransferpriceCommonfixedcostsContributionmarginCost-plustransferpriceTraceablefixedcostsPerformancemarginProductcostsCommittedfixedcosts\begin{array}{lll}\text { Responsibility margin } & \text { Transfer price } & \text { Common fixed costs } \\ \text { Contribution margin } & \text { Cost-plus transfer price } & \text { Traceable fixed costs } \\ \text { Performance margin } & \text { Product costs } & \text { Committed fixed costs }\end{array} If a policy includes a free-look period of at least 10 days, the Buyer's Guide must be delivered to the applicant What policy component decreases in decreasing term insurance? Which of the following best describes this act? In classifying a risk, the Home Office underwriting department will look at all of the following.. A generic consumer publication that explains life insurance in general terms in order to assist the applicant in the decision-making process. False financial statements are made when insurance companies attempt to hide their financial troubles from the public and government officials. Synonym for a substandard risk classification. How much energy is needed to move one electron through a potential difference of 1.0 102 volts, Includes procedures and techniques that are designed to protect a computer from intentional theft. It would be considered unfair discrimination to ask an applicant for their sexual orientation, as well as using sexual orientation as a rating factor to determine insurability. Search for an answer or ask Weegy. 30 Which is NOT required of an applicant for an insurance license in Michigan? What statement about a suicide clause in a life insurance policy is true? Number of credits required for fully insured status for Social Security disability benefits? An insured misstates her age at the time the life insurance application is taken. An insured under a life insurance policy has been diagnosed with a terminal illness and has 6 months to live. The policyowner of an adjustable life policy wants to increase the death benefit. Assuming that a policy does not contain an unconditional refund provision of at least 10 days, when must a Buyer's Guide and policy summary be provided? The policy contained an accidental death rider, offering a double indemnity benefit. What license or licenses are required to sell variable life annuities? An insured has a life insurance policy from a participating company and receives quarterly dividends. Michigan's continuing education requirement consists of completing 24 hours of CE each biennium, with at least 3 of those hours in Ethics. You dont have to worry about it anymore. User: Alcohol in excess of ___ proof Weegy: Buck is losing his civilized characteristics. A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. An employee quits his job on May 15 and doesn't convert his group life policy to an individual policy for 2 weeks. What is the other term for the cash payment settlement option? What is the purpose of a free-look period in insurance policies? If a licensee fails to earn 24 hours of CE by the required review date, the license will be suspended for up to 90 days. Which of the following individuals could qualify for a temporary insurance license? You should now have gotten the answer to your question Rebating is an unfair trade practice and is regulated by law. D 30 days. A A producer's license is suspended or revoked by the Department of Insurance. = 2 5/20 An agent who offers a cash reward to a prospect for buying a policy is guilty of. D. A salaried employee who advertises and solicits insurance. A Defamation To qualify for this exemption, they must apply to become resident licensees within a few days of establishing a legal residence within how many days? A Cannot be extended or waived under any circumstances. A Restriction of authority Your email address will not be published. Which of the following is true regarding pre-licensing education requirements for insurance producers in the state? M may perform all of the following duties EXCEPT. A policyowner who is also yeh insured wants to name her husband as the beneficiary of her life policy. All of the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT A Stocks, securities, or bonds. When the policyowner specifies dollar amount in which installments are to be paid, he/she has chosen which settlement option? C B Twisting. What would be the face amount of the new term policy? D. Sexual orientation. juan holds ________ power. Children's rider are term insurance covering all of the children in the family, including: What explains the policyowner's right to change beneficiaries, choose options, and receive proceeds of a policy? After five years, she decides to leave the company and work independently. Because of this, the company charged him a higher rate for his insurance. On its advertisement, a company claims that it has funds in its possession that are, in fact, not available for the payment of losses or claims. An insurance company has published a brochure that inaccurately portrays the advantages of a particular insurance policy. Department of Education. C Defamation. What would be the right policy for this client? C A legal advertising strategy And employee quits her job where she has a balance of $10,000 in her qualified plan. How many days does the insurer have to deliver this notice? B 30 Which type of life insurance policy allows the policyowner to pay more or less than the planned premium? If she decides to roll over her plan to a traditional IRA, how much will she receive from the plan administrator and how long does she have to complete the tax free-roll over? D Home; About Us. If an insurer terminates a producer, the Commissioner will receive a notification. A Applicant must be 18 years old The automatic premium loan provision is activated at the end of the What premium payment mode will incur the lowest overall payment? The policy endows when the insured turns 100. C Consists of completing 24 hours of CE each biennium. All of the following could own a group life insurance EXCEPT A group needing low-cost life insurance An applicant for a producer's license has successfully completed all of the steps to obtain the license. This rider usually expires at the insured's age of 40. This is considered to be an unfair claim settlement practice When I just opened a new WSL2 Ubuntu 20.04 terminal and ran code . Published by at June 10, 2022. Contracts that are prepared by one party and submitted to the other party on a take it or leave it basis are classified as? Upon policy delivery, the producer may be required to obtain? An insured had a continuous premium whole life policy. If the producer continues to violate the entrance code, I knew so penalty will be assessed every? Which of the following terms describes making false statements about the financial condition of any insurer that are intended to injure any person engaged in the business of insurance? NAIC. What type of policy does the insured most likely have? The Insurance Department regulations are to protect the insurance-buying public. B Undercutting Insurers are also not allowed to cancel individual coverage due to a change in marital status. B Sending a $20 gift certificate to the insured's employee after the insurance has been effected as a thank you for the referral Whether an insurable interest exists between the individuals, An underwriter may obtain information on an applicant's hobbies, financial status, and habits by ordering a(n). Which nonforfeiture option provides coverage for the longest period of time? I love when a hack helps me to recycle, and makes my life easier. Time during which accumulated money is converted into an income stream. 1.Reasonable expectations 2.Subrogation 3.Ambiguities in a contract of adhesion 4.Utmost good faith - answerSubrogation There are various optional provision for health policies. Who is personally liable for all contracts of insurance unlawfully made with in Tennessee on behalf of an unauthorized insurer? Convertible without proof of insurability up to the full term death benefit. 1 Answer/Comment. C Law of large numbers Discrimination. A banker is ready to close on a customer's loan. A Payment of restitution The insured had his wife named as the beneficiary of his life insurance policy. any person acting as an insurance producer without a valid license may be fined up to. What happens to the premium on the children's rider in a life insurance policy? This practice is considered? Each agent must pay a $5 appointment fee to the Commissioner. A Natural Group The ownership provision entitles the policyowner to do what? Which of the following is an eligibility requirement for all Social Security disability income benefits? A key person insurance policy can pay for what? Taxation on dividends in participating policies? The integer 4 is considered all of the following except _____. D False advertising. A Defamation Free Shipping on all orders | We're roasting your coffee right now how to detach from a codependent mother (+91)8050038874 george johnston biography [email protected] B In reality, its financial health is terrible, and the company will soon have to file for bankruptcy. Which of the following documents must be provided to the policyowner or applicant during policy replacement? C$100 What type of policy is this? All of the following events will terminate a producer's certificate of appointment EXCEPT An out-of-state producer wants to start selling insurance in this state. They could be sold for an amount greater than the current cash value, they involve insurance policies with large face amounts, they could be use for a key person coverage. A In the preceding 12 months. Michigan's continuing education requirement has each of the following characteristics EXCEPT unit 3: personal and business finance grade boundaries. A Assigning different risk classifications to applicants based on gender identity What will she need to provide for proof of insurability? This answer has been confirmed as correct and helpful. The advantage of qualified plans to employers is. Because of this, the company charged him a higher rate for his insurance. B An offer to share in commissions generated by the sale. What type of life insurance policy would be best suited to this situation? C 30 days Weegy: A basic position in American foreign policy has been that America must defend its foreign interests related to Weegy: 15 ? Why would removing a trade restriction, such as a tariff, lead to more rapid economic growth? What is true of the cash surrender nonforfeiture option? Any surplus money is returned to the policyholders as dividends. All of the following would be considered to be rebating EXCEPT. A fixed annuity is fixed in the sense that it provides a guaranteed minimum rate of interest and income payments that do not vary from one to the next. What is the total, monetary penalty this producer can expect to receive?