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CLHIGA =
- CALIFORNIA LIFE AND HEALTH INSURANCE GUARANTEE ASSOCIATION
- NOTE: DOES NOT APPLY TO SELF-FUNDED PLANS
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EVERY INSURER IS REQUIRED TO HAVE THEIR OWN_______UNIT TO INVESTIGATE FRAUDULENT CLAIMS SUBMITTED BY AND AGAINST THEIR INSUREDS
FRAUD
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THE DISCONTINUANCE OF ANY GROUP POLICY MUST....
...EITHER INCLUDE A REASONABLE EXTENSION OF BENEFITS OR THE RIGHT TO CONVERT FOR ANY EMPLOYEES WHO ARE TOTALLY DIABLED AT THE TIME THE POLICY IS DISCONTINUED.
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A GROUP POLICY REPLACING ANOTHER MUST COVER...
...ALL EMPLOYEES THAT WERE COVERED UNDER THE PREVIOUS POLICY AND BENEFITS FOR EMPLOYEES AND THEIR DEPENDENTS CANNOT BE LOWER THAN THE BENEFITS UNDER THE PRIOR POLICY
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LIFE AND DIABILITY INSURERS CANNOT DISCRIMINATE ON THE BASIS OF...
...RACE, RELIGION, ANCESTRY, NATIONALITY, OR SECUAL ORIENTATION, NOR CAN THESE BE A REASON TO CHARGE HIGHER PREMIUMS. HOWEVER, LIFE AND DISBILITY INSURERS CAN DISCRIMINATE ON AGE AND SEX BASED ON SEX DISTINCT MORTALITY AND MORBIDITY TABLE
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A PERSON WHO CARRIES A GENE THAT COULD BUT HAS NOT YET AFFECT THEM OR THEIR OFFSPRING CANNOT....
...BE DISCRIMINATED AGAINST OR CHARGED A HIGHER PREMIUM
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DISCLOSING A CLIENT'S GENETIC INFORMATION SUBJECTS THE INSURER AND AGENT TO________
FINES
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BIRTHPLACE PLACE CAN BE ASKED AS USED FOR IDENTIFICATION BUT NOT TO_________ AGAINST THE CLIENT
DISCRIMINATE
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LIFE AND DISABILITY INSURERS CANNOT RATE OR DECLINE AND APPLICANT JUST BECAUSE THEY HAVE A ________ OR _______ UNLESS IT IS BASED UPON SOUND ACTUARIAL PRINCIPLES OR REASONABLE ANTICIPATED EXPERIENCE
PHYSICAL OR MENTAL IMPAIRMENT
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_________ MEANS MANDATORY (MUST). ______ MEANS PERMISSIVE (CAN). ______MEANS INDIVIDUAL OR ENTITY SUCH AS AN ASSOCIATION, ORGANIZATION, PARTNERSHIP, BUSINESS TRUST, LIMITED LIABILITY COMPANY OR CORPORATION
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INSURED ARE TO NOTIFY AN INSURER AS SOON AS POSSIBLE. INSURERS HAVE _____ DAYS TO GET OUT THE CLAIM FORMS. INSURERS HAVE_____DAYS TO ACCEPT OR DENY A CLAIM. ONCE EVERYONE IS IN AGREEMENT INSURERS HAVE____DAYS TO SEND CLAIM PAYMENT.
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APPLICANT, POLICYOWNER, AND INSUREED CAN BE ______ _______ OR AS MANY AS _____ DIFFERENT PEOPLE WHEN PURCHASING A LIFE OR DISABILITY INSURANCE PRODUCT
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_________ ________ _________ IS A METHOD TO DETERMINE THE APPROPRIATE AMOUNT OF LIFE INSURANCE AND IS BASED ON THE INDIVIDUALS _________ _________
- HUMAN LIFE VALUE
- EARNING POTENTIONAL
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_______ ________ IS A METHOD THAT USES THE PROPOSED INSUREDS GOALS, OBJECTIVES, ASSETS AND LIABILITIES TO DETERMINE THE THE APPROPRIATE AMOUNT OF LIFE INSURANCE
NEEDS APPROACH
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RISK MANAGEMENT TECHNIQUES:
- RISK SHARING
- RISK TRANSFER (INSURANCE)
- RISK AVOIDANCE (ELIMINATING THE EXPOSURE)
- RISK REDUCTION (WEARING SEATBELTS)
- RISK RETENTION (SELF-INSURING)
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TWO MAJOR CATEGORIES OF USES FOR INSURANCE ARE_______ USE AND _______ USE. EXAMPLES OF _________ USE ARE: KEY PERSON INSURANCE, BUY-SELL (BUY-OUT) AGREEMENTS AND GROUP INSURANCE.
- PERSONAL (INDIVIDUAL)
- BUSINESS
- BUSINESS
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________ ________ IS A METHOD TO FUND EITHER PERSONAL OR BUSINESS INSURANCE THAT USES A PERMANENT POLICY (ONE THAT HAS CASH VALUE)
SPLIT DOLLAR
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_______ TABLES INDICATE BOTH LIFE EXPECTANCY AND PROBABILITY OF DEATH AT VARIOUS AGES FOR A GROUP OF PEOPLE. THE TABLES ARE BASED ON INFORMATION CONCERNING _________ OF PEOPLE OVER VERY ______ _____ OF TIME
- MORTALITY
- MILLIONS
- LONG PERIODS
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