[SVL] Insurance 14

Marcus pays his insurance premium monthly and has a grace period of
A. 7 days
B. 30 days
C. 10 days
D. 31 days

All of the following are mandatory health insurance provisions, EXCEPT
A. renewability
B. proof of loss
C. payment of claims
D. time limit on certain defenses

All of the following are of ta da stace ProViSIOnS EXCEPT
A. narcotics
B. insurance with other insurer
C. unpaid premium
D. change of beneficiary

How many days notice must the insured be given if an insurer cancels a policy?

A. 2
B. 5
C. 10
D. 3

Which provision allows new insureds the right to examine a policy for a specified period of time with the option to return it?
A. Free look period
B. Consideration clause
C. Insuring clause
D. Renewability

The exchange of something of value is known as
A. a consideration
B. a free-look
C. a provision
D. an insuring agreement

According to the entire contract provision, the entire contract includes all of the following
ЕХСЕРТ
A. any attachments
B. any endorsements
C. the insurance policy
D. the premium payment

Generally, written proofs of loss must be furnished within how many days after the loss?
A. 60
B. 15
C. 45
D. 90

If there is no beneficiary listed on a policy,
benefits will be paid to
A. the insured's nearest relative by marriage or blood
B. the insured's nearest blood relative
C. the state
D. the insured's estate

The insurer may generally require an autopsy at
its own expense unless
A. the state has an applicable law that forbids autopsy
B. the deceased requests in writing that an autopsy not be performed
C. the deceased's relatives have proven religious objections to an autopsy being performed
D. the deceased's relatives request that an autopsy not be performed

When Betty purchased her insurance policy, her age was recorded as 32 when she was actually 34. Assuming her policy includes the misstatement of age provision and the insurance company discovers this four years later, Betty's policy
A. will be canceled for misrepresentation
B. will be unchanged because the incontestable period has expired
C. limits will be raised
D. limits will be lowered

The optional provisions that deal with multiple insurance policies of the same type on a single insured deal with the problem of
A. over-insurance
B. inappropriate insurance
C. incorrect insurance
D. underinsurance

A pro rata return is one in which the insurer
returns
A. less than the proportionate amount of the unearned premium
B. the proportionate amount of the unearned premium
C. both earned and unearned premium
D. neither earned nor unearned premium

The grace period varies according to
A. premium payment amount
B. type of policy
C. method of premium payment
D. premium payment frequency

Mike allows his policy to lapse, then applies for reinstatement using the company's required application. The company does not inform Mike either that the policy has been accepted or that the policy is being rejected. At what point can Mike consider the policy reinstated?
A. Not until the insurer notifies him that it has been reinstated
B. After 45 days
C. As soon as the application has been submitted
D. After 90 days

A reinstated policy will cover

A. sickness immediately and accidents after 10 days
B. both sickness and accidents after 10 days
C. accidents after 10 days and sickness after 30 days
D. accidents immediately and sickness after 10 days