Louisiana Laws And Rules Study Guide Questions And Correct Answers

After ____ years from date of issue, a policy can no longer be cancelled by the insurer for misstatements (except for fraud). {Ans: 3}A foreign insurance company doing business in Louisiana {Ans: is a company that was formed under the laws of another state.}A business entity wishing to act as an insurance producer MUST {Ans: obtain a producer's license}An insurer may exclude preexisting conditions on a Medicare Supplement policy for _____ months. {Ans: 6}Medicare Advantage plans are sometimes called {Ans: part c.}On occasion, insurable interest may exist in the absence of economic interest. Which of the following examples does this pertain to? {Ans: A husband and a wife}What is the MINIMUM benefit period that must be offered by a Long Term Care policy? {Ans: 12 months}An example of endodontic treatment is a {Ans: root canal}An existing life insurance policy is being replaced by a new one. A notice of replacement must be provided by the ____ to be signed by the applicant. {Ans: producer}A life insurance application in Louisiana may backdate the application for up to ____ months. {Ans: 6}In Louisiana, small employer health plans require a MINIMUM of _____