Missouri Life And Health Exam Questions And Answers

Which type of plan allows an employer to give money to an employee for buying a life insurance policy and also permits the employee to select the beneficiary? {Ans: Split-dollar plan}The Legal Actions provision of an insurance contract is designed to do all of the following, EXCEPT: a) provide the insurer adequate time to research a claim b) protect the insured from having claim research delayed c) protect the producer d) give the insured guidelines for pursuing legal action against the insurer {Ans: protect the producer}P purchases a $50,000 whole life insurance policy in 2005. One of the questions on the application asks if P engages in scuba diving, to which P answers "No". The policy is then issued with no scuba exclusions. In 2010, P takes up scuba diving and dies in a scuba-related accident in 2011. What will the insurer pay to P's beneficiary? a) Premiums paid plus interest b) Nothing. Claim will be denied c) $50,000 minus any outstanding policy loans d) $100,000 because the cause of death was accidental {Ans: $50,000 minus any outstanding policy loans}Long Term Care policies will usually pay for eligible benefits using which of the following methods? a) delayed