When A Medicare Supplement Policy Is Replaced The Policy Owner Will Have A Free Look Period Of? You have 30 days to decide if you want to keep the new Medigap policy. This is called your “free look period.” The 30-day free look period starts when you get your new Medigap policy. When a Medicare
What Must Be Disclosed When A Producer Advertises A Life Insurance Policy? Advertisements must be truthful and not misleading in fact or by implication. -An advertisement will not use as the name or title of a life insurance policy any phrase that does not include the words “life insurance” unless accompanied by other language clearly
What Is The Importance Of Health Insurance? It’s important to have health insurance as a safety net. If you unexpectedly get sick or injured, health insurance is there to help cover costs that you likely can’t afford to pay on your own. Health care can be very expensive. It can be an enormous financial burden.
What Is The Importance Of Insurance In Business? It’s important to have business insurance because the financial consequences of a potential mishap could easily wipe out the assets of a small business. Insurance provides protection in case customers or passersby experience harm at the hands of your company, or if your company is harmed by
What Is An Exclusion In An Insurance Policy? Definition: Exclusions are the cases for which the insurance company does not provide coverage. These are the conditions excluded from the insured event to avoid losses to the company. … Waiting period in which the insurance benefits do not apply is also a type of exclusion. Why
Can You Legally Drive A Deceased Person’s Car? You should not drive a deceased person’s vehicle until you get the title transferred and auto insurance in your name. A surviving spouse or executor of deceased driver’s estate will inherit the policy. This transfer requires a death certificate, probate form, or an executor of estate document.
Which Provision States That The Insurance Company Must Pay Claims Immediately? Which provision states that the insurance company must pay claims immediately? Answer D is correct. Time of Payment of Claims (a Mandatory Uniform Provision) stipulates that claims are to be paid immediately upon written proof of loss. Which provision states the insurance company must
Which Of The Following Types Of Care Is Excluded In A Long-term Care Policy? Many long-term care policies exclude coverage for the following: Mental and nervous disorders or diseases (except organic brain disorders) Alcoholism and drug addiction. Illnesses caused by an act of war. Which of the following is not covered by Medicare? Routine dental
What Is The Role Of Insurance In Financial Planning? Why insurance is a must-have in any financial plan. Insurance is a very important financial product. It offers you a protective financial cover against the various contingencies in life. How does insurance help in financial planning and taxation explain? A life insurance plan is also a
What Is Linked Life Insurance? Linked insurance policies are the insurance plans that offer an insurance cover along with returns as dependent on the performance of the market. The most popular example of a linked insurance plan is Unit Linked Insurance Plan or ULIP plan. Is ULIP good or bad? From a ULIP, neither are