Xcel - Ny - Exam Simulator 1 Insurance | 2023 | 160 Questions With 100% Correct Answers | Updated & Verified | 22 Pages

Medicaid is a government-funded program designed to provide health care to {Ans: poor people}Funding for Medicare Part B is partially provided by {Ans: user premiums}According to the Affordable Care Act, what metal tier is required to have an actuarial value of 70% with covered individuals paying 30% through deductibles, co-pays and other cost sharing features? {Ans: Silver Plan}Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called {Ans: estate conservation}New York Disability Benefit Law provides cash payments to workers unable to work because of {Ans: injury or illness that occured on the job.}The role of the federal government was expanded when Medicaid was established by allowing the state to {Ans: receive matching funds to expand public assistance programs}Which of the following BEST describes a conditional insurance contract? {Ans: A contract that requires certain conditions or acts by the insured individual}An annuitant dies during the distribution period. What kind of annuity will return to a beneficiary the difference between the annuity value and the income payments already made? {Ans: Refund annuity}An applicant's character and personal habits can be obtained for underwriting purposes from which source?