Question: Within How Many Days After Policy Delivery Can A Medicare Supplement?

Which of the following situations does not apply to the Florida replacement rule?

Mutual company is owned by its policyholders. Which of the following situations does NOT apply to the Florida Replacement Rule? Florida’s Replacement Rule applies to all of these situations EXCEPT ” An existing policyholder purchases an additional policy from the same insurer “. You just studied 146 terms!

Which of the following is considered to be misrepresentation?

There are three types of misrepresentation: fraudulent, negligent and wholly innocent. The importance of the distinction lies in the remedies available for each type.

Which of the following situations are not subject to Florida life insurance laws?

Which of the following situations are NOT subject to Florida life insurance laws? Florida life insurance laws apply to all of these situations EXCEPT ” Insurance companies’ day-to-day operations “. The correct answer is “they are insured by an authorized insurer”.

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Which type of insurance company allows the policy owner to elect a governing body?

A mutual insurance company is an insurance company that is owned by policyholders. The sole purpose of a mutual insurance company is to provide insurance coverage for its members and policyholders, and its members are given the right to select management.

Which is an example of an unfair claims settlement practice?

Typical Example of Unfair Claims Practice The insurance company delays payment, rendering the business owner unable to repair any of the damage. The insurance company continues using delay tactics to avoiding making a payment.

Which of the following is a standard provision of the conversion?

Which of the following is a standard provision of the conversion privileges in a Group Life policy? (Correct.) Conversion at regular rates on an attained-age basis without a medical exam is a standard provision for conversion privileges in Group Life policies.

What are the 3 types of misrepresentation?

There are three types of misrepresentations— innocent misrepresentation, negligent misrepresentation, and fraudulent misrepresentation —all of which have varying remedies.

How do you prove misrepresentation?

To prove fraudulent misrepresentation has occurred, six conditions must be met:

  1. A representation was made.
  2. The claim was false.
  3. The claim was known to be false.
  4. The plaintiff relied on the information.
  5. Made with the intention of influencing the plaintiff.
  6. The plaintiff suffered a material loss.

What is an example of innocent misrepresentation?

INNOCENT MISREPRESENTATION The aim of rescission is to return the parties back to their pre-contract positions. For example, in Keen v. Alterra Developments Ltd. two purchasers contracted with a builder, Alterra Developments, to build their dream home.

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Which of the following actions will an insurance company most likely not?

Which of the following actions will an insurance company most likely NOT take if an applicant, who has diabetes, applies for a Disability Income policy? The correct answer is “ Issue the policy with an altered Time of Payment of Claims provision”.

Which health policy clause specifies the amount of benefits?

Which health policy clause specifies the amount of benefits to be paid? ” Insuring “. In an Accident & Health policy, the insuring clause states the amount of benefits to be paid.

What is the minimum percentage of employee participation for non contributory group health insurance plan according to Florida law?

Typically, noncontributory plans require 100% employee participation; contributory plans usually require approximately 75% participation. (However, under Florida law there is no specific minimum percentage participation for employees covered by employee group health insurance.)

What percentage of eligible persons must a policy?

Insurance companies typically require 100 percent of eligible employees to participate in noncontributory plans. Employers are allowed to set their own guidelines for determining who is eligible to participate in the plan.

What is a reciprocal insurer?

Reciprocal insurance exchanges are a form of insurance organization in which individuals and businesses exchange insurance contracts and spread the risks associated with those contracts among themselves. Policyholders of a reciprocal insurance exchange are referred to as subscribers.

What is the purpose of the insurance guaranty association?

Insurance guaranty associations provide protection to insurance policyholders and beneficiaries of policies issued by an insurance company that has become insolvent and is no longer able to meet its obligations. All states, the District of Columbia, and Puerto Rico have insurance guaranty associations.

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