Michigan insurance Study guides, Class notes & Summaries

MICHIGAN LIFE AND HEALTH FINAL EXAM / 80+ QUESTIONS AND CORRECT ANSWERS 2023/2024 / GRADED A+. Final Exam-Michigan Life and Health 1. What amount will be paid under a policy where the insured misstated his/her age?: an amount the premium would have purchased at the correct age 2. the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days: 30 days 3. which of these is considered to be a Living benefit option in a lif...

Michigan Life Insurance State Exam | 150 Questions and Answers 100% Correct

Michigan Life Insurance State Exam Questions and Answers 2024 Correctly done

Producer ️ licensed person who has the authority to sell, solicit, or negotiate insurance contracts Who has permission to cancel the license? ️ the commissioner Agent ️ person or corporation authorized to solicit insurance, collect premiums & transact insurance business on behalf of an insurance company Producer is appointed by who ️ appointed by the agent to represent the insurer & an insurer can cancel the appointment of agent DIFS ️ Dept of Insurance and Financial Services, ...

All of the following are functions of an insuring clause EXCEPT a. States the conditions under which the policy will pay b. Outlines the kind of benefits provided c. Primarily describes the free-look period d. Provides the policy's scope and limits of coverage ️ c. Primarily describes the free-look period The policyholder for a group health benefit plan is considered to be the a. Employee b. Employer c. Liaison d. Insurer ️ b. Employer Matt is applying for life insurance and requ...

Final Exam-Michigan Life and Health Questions and Answers Already Passed What amount will be paid under a policy where the insured misstated his/her age? an amount the premium would have purchased at the correct age the acceptance of a credit life application requires the submission of a certificate of insurance to the insured within_____ days 30 days which of these is considered to be a Living benefit option in a life insurance policy Accelerated death benefit loans obtained by ...

Which is TRUE regarding the annuitant, when the annuitant is NOT the policy owner? 1. The annuitant has the right to name the beneficiary 2. The annuitant is the person paying the premiums 3. The cash value is available to the annuitant for withdrawals 4. Annuity payments will be based on the annuitants life expectancy - ANSWER Annuity payments will be based on the annuitants life expectancy Signing an applicants name for insurance is known as...? 1. Concealment 2. Defamation...

Michigan State Title Insurance Exam Questions With Complete Solutions

Michigan P & C Insurance Exam Test Question and answers already passed 2023/2024 Termination of Insurance for auto and home must be sent to last know address no later than - correct answer 30 days before cancellation Termination of casualty insurance cannot take place until- from the mailing date - correct answer 10 days PIP in auto insurance covers individual care from a family member for - correct answer a limit of $20 a day for three years limited collision - correct answer shall pa...

Michigan Insurance Test | 170 Questions and Answers 100% Correct