Psi - Life, Accident, And Health - Full Exam Questions (75 Terms) With Verified Definitions Updated 2024

Concealment, whether intentional or unintentional, entitles the injured party to? 1. Modify insurance. 2. Rescind insurance. 3. Supplemental benefits. 4. Reduced cost insurance. {Ans: Rescind insurance.}All of the following conditions provide a basis for group life insurance coverage EXCEPT 1. insurance may be issued with or with out medical examinations of each applicant. 2. for a group plan the coverage must be provided for not less than two employees. 3. coverage is offered to all employees if premiums are paid jointly by employer and employees. 4. amounts of insurance may be selected as needed per individuals personal need. {Ans: amounts of insurance may be selected as needed per individuals personal need.}When is a person acting as a licensee allowed to act as an agent of the insurer? 1. when the agent has completed the licensing paperwork and submitted it to the insurer 2. when the insurer has filed with the commissioner a notice of appointment 3. when the insurer has provided the agent with applications 4. when the agent has received oral approval from the insurer to transact business {Ans: when the insurer has filed with the commissioner a notice of appointment}Who is the California Life and