Arizona Life And Health Insurance Study Guide Rated A+

what is a "functional assessment" for long-term care benefits? {Ans: a review of the insureds ability to perform the activities of daily living}the insurers obligation to pay a claim depends on whether the insured or beneficiary has complied with all policy conditions. this makes the policy a(n) {Ans: conditional contract}John received a one-time distribution of $50,000 from his modified endowment contract (MEC). Prior to that, the contract's cash value was $150,000, the contract investment amount was $100,000, and the death benefit was $500,000. What percentage of the $50,000 distribution was taxable as ordinary income? {Ans: 100%}rick provides a notice of claim to his health insurer. if he does not receive a claim form within 15 days, he may comply with proof of loss provision by {Ans: submitting written proof of loss}which of the following statements about universal life insurance is NOT true? {Ans: Universal life insurance normally has a minimum guaranteed cash value for duration of the policy}which of these is NOT considered a Federal punishment for unfair and deceptive insurance practices? {Ans: community service}