Life Insurance And Health Insurance 1235 Correctly Answered Questions Latest Update

State Guaranty Association {Ans: protect policy owners in the event of any insurance company going out of business, becoming insolvent, or the in ability to pay claims}An insured submits a claim form that is intentionally and falsely altered in order to receive a benefit. Which term best describes this submission? a. material misrepresentation b. misrepresentation c. theft d. fraud {Ans: D. Fraud The best response is fraud because it involves intentional deception. Material misrepresentation may or may not be intentional. Being convicted of theft may result, but falsely filed claims are generally deemed to be fraud.}The employer is the owner and the beneficiary {Ans: Who is the owner and who is the beneficiary on a key person life insurance policy?}Premium {Ans: Monthly payment for insurance}Medical treatment provided for an individual {Ans: }The policy owner wishes to provide for the care of her minor child in the event of premature death. To accomplish this, the owner should probably designate as beneficiary: a. a spouse as a revocable beneficiary b. the estate of the deceased c. a favorite charitable organization d. a trust {Ans: D. A trust An owner of a life insurance policy may designate