Insurance Exam Questions Questions With Complete Solutions

Annuity contracts grow tax deferred. That means that {Ans: There is no current income taxation upon the growth in the annuity.}An insured was involved in an accident and could not perform her current job for 3 years. If the insured could reasonably perform another job utilizing similar skills after 1 month, for how long would she be receiving benefits under an "own occupation" disability plan? {Ans: 2 years}The death protection component of Universal Life Insurance is always {Ans: Annually Renewable Term}All of the following are considered to be supplemental benefits under an HMO plan EXCEPT {Ans: Preventive services.}Garrett is involved in a car accident. In addition to general, less serious injuries, he permanently loses the use of his leg and is rendered completely blind. The blindness improves a month later. To what extent will he receive Presumptive Disability benefits? {Ans: No benefits}In forming an insurance contract, when does an acceptance usually occur? {Ans: When an insurer approves a prepaid application}