Health and Life Insurance Exam Practice

Exam Practice Question Which settlement option pays a stated amount to an annuitant, but no residual value to a beneficiary? Kathy pays a monthly premium on her health insurance policy. How long is her grace period? An example of endodontic treatment is a Any transaction in which new life insurance is purchased and, as a result, the existing life insurance will be surrendered is called An insurer must submit all policy forms and applications to the Commissioner at least __ days before they can be used. HIPAA considers which of the following as "individually identifiable health information"? David submits a $500 claim for medical expenses. There is a pastdue amount owed for insurance premiums of $200. As a result, the insurer only pays $300 for the claim. This deduction came as a result of which provision? The open enrollment period for Medicare Supplements begins at age If an insurer terminates a producer's appointment, it must notify the Commissioner within ___ days of the termination. Written notice of a health (disability) insurance claim should be given to the insurer within __ days after the occurrence of any loss covered by the policy. Which of the following types of deductibles would apply a single deductible to both medical and dental insurance coverage? A change in an insurance application requires What are an applicant's statements concerning occupation, hobbies, and personal health history regarded as? Which of these individuals would require continuing education? Rob has a benefit at work which enables him to defer his current receipt of income and have it paid at a later date, when he will probably be in a lower tax bracket. Which benefit fits this description? An insured was injured as an innocent bystander when someone committed a felony. The insurer is A whole life insurance policy accumulates cash value that becomes What may be the result of replacing an existing life insurance policy with a new one? How soon can the benefit payments begin with a deferred annuity? In what part of an insurance policy are policy benefits found? What does the word "level" in Level Term describe? Bob and Tom start a business. Since each partner contributes an important element to the success of the business, they decide to take life insurance policies out on each other, and name each other as beneficiaries. Eventually, they retire and dissolve the An Outline of ______ is required for long-term care policies and provides a brief description of the important features of the policy. When are group disability benefits considered to be tax-free to the insured? Small employers who are sponsored by an insurer to provide group benefits to its employees are called At what age will a person normally enroll with an insurance carrier under a Part C Medicare Advantage Plan? The least expensive option to pay off a 30-year mortgage balance would be Refusing an insurance applicant because of marital status is an example of Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this? An insurer may pay a commission in which of the following scenarios? Answer Life income 10 days Root canal Replacement 30 days A persons health claim information Unpaid provision 65 30 20 integrated deductible an initial made by the applicant representation Resident Producer deferred compensation option liable for loss the policy loan value which the insured may borrow against Surrender charge A minimum of 12 months after date of purchase Declarations the Face amount Tom Benefits when the recipient pays the premiums MEWA (multiple employer welfare association) 65 decreasing term life illegal discrimination Guaranteed insurability rider to a licensed producer who is appointed with the insurer What is the purpose for having an accelerated death benefit on a life insurance policy? What kind of life insurance policy covers two or more people with the death benefit payable upon the last person's death? Advertising regulations exist in order to Pre-death distributions from a modified endowment contract (MEC) receive different tax treatment than other life insurance policies because When a decreasing term policy is purchased, it contains a decreasing death benefit and A single premium cash value policy can be described as Which type of beneficiary should be named if the insured wants to give explicit directions on how the policy proceeds should be paid? Field underwriting performed by the producer involves The standard grace period for a life insurance policy sold in Washington is Which type of disability would be less than total impairment and equal to permanent impairment? In which of the following processes will the insurer oversee the insured's hospital stay to confirm everything is going according to schedule and that the insured will be released as planned? Which of the following statements is NOT true regarding a Critical Illness Plan? Insurance companies determine risk exposure by which of the following? Who assumes the investment risk with a fixed annuity contract? Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him? A provision in a whole life policy that allows a policyowner to terminate the policy in return for a reduced paid-up policy of the same type is called a(n) A life insurance policyowner does NOT have the right to Distributions from a Health Savings Account (HSA) for qualified medical expenses are An individual insurance producer who allows his or her license to expire may, within ___ months from the expiration date, reinstate the same license without passing a written exam. An example of naming a beneficiary by class would be Premium mode is a term used to describe the A dread disease policy is considered to be a type of Which of the following is an example of a producer's fiduciary duty? A policyholder's unmarried child is incapable of self support due to a physical disability. The child is provided medical care coverage under the parent's policy In an insurance contract, the element that shows each party is giving something of value is called An individual who removes the risk of losing money in the stock market by never purchasing stocks is said to be engaging in Lorenzo is self employed with an S corporation. He is unmarried and had a net profit for the tax year. What are the tax ramifications of his health insurance premiums paid for the year? The typical long-term care insurance policy is designed to provide a minimum of __ year(s) of coverage. An attending physician's statement would be appropriate for which life insurance purpose? Under the subrogation clause, legal action can be taken by the insurer against the In Washington, a Long-Term Care policy must be _______ renewable. Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? Producers must complete ___ hours of continuing education biannually. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). Who would be responsible for the prosecution of this crime? It allows for cash advances to be paid against the death benefit if the insured becomes terminally ill Last Survivor Life insurance demonstrate full and truthful disclosures to the public the MEC tends to be an investment vehicle level premiums a policy that is paid up after only one payment Individual completing application and collecting initial premium 30 days permanent partial disability concurrent review Coverage is limited to a single devastating disease Law of large numbers and risk pooling the insurer Assisted living nonforfeiture provision revoke an absolute assignment tax-free 12 to the children born of my union with Ned Jackson frequency of the premium payment limited health insurance policy recording receipts and remittance of premium due to the insurance company until policy termination with proof of incapacity consideration risk avoidance 100% of his health insurance costs can be deducted from his gross income 1 at the request of the insurer to assist in underwriting decision responsible third party guaranteed interest only 24 increases US Attorney General Justin is receiving disability income benefits from a group policy paid for by his employer. How are these benefits treated for tax purposes? A long-term care policy typically provides all of the following levels of care EXCEPT A waiver of premium rider allows an insured to waive premium payments if the insured is An employer may qualify for health care tax credits through SHOP Marketplace if that employer has fewer than how many employees? The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? Fixed annuities provide each of the following EXCEPT The principle of insurable interest, in regards to a life insurance contract, is accurately described in which statement? An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of Index whole life insurance contains a securities component that acts as a(n) The _______ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes An advertisement for an insurance product may contain What is issued to each employee of an employer health plan? Which of the following unfair trade practices involves a producer who makes public, malicious statements about an insurer's financial condition? Which of the following is NOT included under a health benefit plan? What does the Group Life underwriting risk selection process help protect insurance companies from? Greg had recently been terminated from his job that covered him for group life insurance. How long does he have to convert his coverage to an individual policy? If an accident and health (disability) policy is reinstated after it had lapsed for nonpayment, there is a waiting period of ___ days before a claim covering sickness will be covered. A health insurance policy where the insurer has the right to terminate the policy for reasons other than the insured's health is called Medicare Part B covers The entire contract includes the actual policy and the A partial surrender is allowed in which of the following life policies? The Washington Life and Health ______ Association is used to rehabilitate insolvent insurers Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? What is the purpose of a Disability Income Benefit? Which of the following is considered to be an event or condition that increases the probability of an insured's loss? The IRS allows a taxpayer to deduct medical expenses that exceed 7.5% of their adjusted gross income. Which of the following is considered a tax deductible medical expense under this rule? What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc)? Which of these factors would an insurer consider when determining whether to accept a group life plan? During the accumulation period, who can surrender an annuity? Over the course of a year, which premium payment mode is most expensive? A ______ license may be issued in cases where a producer has become disabled or dies, requiring a replacement to service the producer's business. An insurer's ability to make unpredictable payouts to policyowners is called An insurance producer is often responsible for field underwriting during the application process. All of these are possible field taxable income acute care completely and permanently disabled 25 employees implied hedge against inflation Insurable interest can be based on the love and affection of individuals related by blood or law fraud Index whole life insurance contains a securities component that acts as a(n) producer the entire insurance contract between the parties the insurers name certificate defamation hospital indemnity plan Adverse selection 31 10 conditionally renewable doctor's charges application universal life guaranty business overhead expense policy Provide money for living expenses Hazard Long Term Care insurance premiums Dread disease insurance average age Policyowner monthly temporary liquidity providing commission information to the applicant underwriting roles EXCEPT Which scenario would most life insurance policies exclude coverage for? In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? An example of replacement is Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Which of the following is the likely result? Respite care is able to provide If the annuitant dies before the annuity start date, Kristi purchases an annuity that will pay her husband an income for 15 years. If he dies, this income will become payable to their children for the remainder of the period. Kristi has what kind of annuity? One role of the Commissioner is to In order to activate the reinstatement clause of a lapsed life insurance policy, the insured MUST Which of the following is a requirement for ANY change in an insurance application? Decreasing term life insurance is often used to Pierre is covered by his employer's group major medical plan. His employer pays for 75% of the premium and he pays for 25%. How much would a $10,000 benefit be taxable as income under this plan? A life insurance claim which involves a per capita distribution of policy proceeds would be payable to the An individual who has a hobby racing cars once a month Insurable interest can be established sufficiently by sentimental attachment alone canceling a term life policy to buy a whole life policy care is covered temporary relief to the patient's primary caregiver the premiums paid plus interest earned will be given to the beneficiary temporary annuity certain enforce state insurance laws provide evidence of insurability to the insurer Change must be initialed by the applicant provide coverage for a home mortgage 0 'named living primary beneficiaries' "Per capita" is a method of life insurance distribution using total number of individuals. This means that all living members that are identified in the life insurance policy will receive an equal amount of the life in In Washington, a Medicare Supplement policy must be _______ guaranteed renewable. Tom has a rider on his disability income policy that guarantees the right to increase his benefits without a medical exam. What kind guaranteed insurability rider of rider is this? An insurance applicant with a below-average likelihood of loss is preferred risk typically considered to be a " 14 day waiting period / 10 year benefit period " The disability Frank is shopping for a disability income policy. Which of the income policy with the lowest waiting period and longest benefit following would have the HIGHEST premium? period would have the highest premium. Which settlement option involves having the proceeds remain with the insurer and earnings paid on a monthly basis to the interest only beneficiary? Which of these will typically authorize treatment from a gatekeeper specialist? An annuity is primarily used to provide retirement income A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called association or labor group a(n) An interest-sensitive life insurance policyowner may be able to withdraw the policy's cash value interest free. The provision that Partial Surrender allows this is called In an insurance contract, the applicant's "consideration" is the statements made in the application and the premium A producer is meeting with a client to determine whether an annuity would be suitable for purchase. Which of the following financial objective topics needs to be discussed with the client? A nonparticipating company is sometimes called a(n) a stock insurer An employee under a group insurance policy has the right to convert to an individual policy in the event of employment name a beneficiary and the right to termination Which type of multiple protection policy pays on the death of the survivorship life policy last person? The reinstatement provision in a health insurance policy is mandatory James is the insured on a life insurance policy where his age was The death benefit paid will be what the premium would have misstated on the application. Which of the following is CORRECT purchased at the correct age regarding the death benefit amount? A life insurance producer is required to give a disclosure notice about information practices to an applicant or proposed insured Prior to or at the time of signing the application "defined contribution plan". A defined contribution plan is Prior to or at the time of signing the application considered a tax-qualified plan. An association operating solely for the benefit of its members and their beneficiaries is called a Which of these would NOT be considered a presumptive disability? Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of these statements is true? Which of these annuities require premium payments that vary from year to year? The coverage, conditions, and limitations in the master policy of a group contract can be found in which document? An insurer has a right to screen applicants for HIV in which of the following ways? An individual who has a contract with an insurance company to represent it is called a(n) What amount will be paid under a policy where the insured misstated his/her age? All of these are considered key factors in underwriting life insurance EXCEPT Which of these is likely to occur when life or health insurance is being applied for? Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? A closed network plan offers a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay Which of the following is an example of the insured's consideration? A life insurance company has transferred some of its risk to another insurer. The insurer assuming the risk is called the What is the tax liability for employer contributions in Health Savings Accounts (HSA's)? A master contract and certificate of coverage can be found in which type of policy? A Medicare Supplement policy can be cancelled by the insurer for Health insurance involves two perils, accident and ____. Benefits for a Medicare Supplement policy The conversion privilege under a group life plan allows an employee to convert to a(n) Someone needing custodial care at home would require which type of coverage? A health insurance policy that allows an insurer to change the policyowner's premiums, but NOT cancel the policy is called a(n) Elizabeth is the beneficiary of a life insurance policy. She is receiving the death benefit in payments of $10,000 per month until the principal and interest has been paid out. Which option was chosen? The statement which best describes the relationship between the premiums of a whole life policy and the premium payment period is A proposed insured for a health insurance policy was treated for heart disease within the past year. When applying for health insurance, the heart disease treatment Maria the producer would like to advertise an annuity product on a highway billboard. Which of the following must be included in the advertisement? Which type of policy combines the flexibility of a universal life policy with investment choices? Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. What is this an example of? Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's benefits must What is implied authority defined as? Fraternal benefit society Loss of a leg or arm the face and the premium will remain constant over the 10 year period Flexible premium deferred annuity certificate of coverage and benefits Blood test for HIV Producer An amount the premium would have purchase Marital status medical history from the insured may be reviewed and reported Medicare in-hospital deductible 100% of the billed amount a paid premium reinsurer no tax payment needed group nonpayment sickness must not duplicate Medicare benefits individual plan upon employment termination long-term care guaranteed renewable policy fixed amount The shorter the payment period, the higher the premium indicates a preexisting condition her name variable universal life policy rebating be the same and the premium cannot exceed 102% Authority that is not specifically given to an agent in the agency contract, but that an agent can reasonably assume to carry out his/her duties A provision that allows a policyowner to withdraw a policy's cash partial surrender value interest free is a(n) Which of the following would be considered an underwriting duty completing all application and collecting initial premiums of an agent? Which of the following is a reinstatement condition? Proof of insurability, One of the conditions required for an insurance policy reinstatement is proof of insurability. All of these are valid options for an Adjustable Life Policy EXCEPT A nonforfeiture option can be used to increase the death benefit Which of the following is a legal entity created for the sole purpose of providing affordable group health coverage to its participants? A MEWA is an arrangement where a group of employers pool their contributions together to purchase group health and other insurance benefits for their employees. By pooling their contributions together, these smaller employers are better positioned to offe What percentage of a participant's income are group long-term disability benefit amounts typically limited to? How do interest earnings accumulate in a deferred annuity? All of the following are included as part of a contract in the entire contract provision EXCEPT the Which of these statements regarding the annuitant is CORRECT? All of the following are considered appropriate uses of life insurance for business purposes EXCEPT In Washington, an insurance producer cannot sell, solicit, or negotiate policies for an insurer unless there is an agreement in place between the producer and insurer. This agreement is called a(n) All of the following are functions of an insuring clause EXCEPT An example of a primary care physician would be a(n) A Medicare Supplement policy must NOT contain benefits which Within how many days must a rollover be completed in order to avoid being taxed as current income? Which of the following would be a valid reason why a policy premium would be higher than the standard premium? All of these are valid policy dividend options for a life insurance policyowner EXCEPT Which of the following signatures is not required on an individual insurance application? A disability elimination period is best described as a Joe has a life insurance policy that has a face amount of $300,000. After a number of years, the policy's cash value accumulates to $50,000 and the face amount becomes $350,000. What kind of policy is this? ABC Insurance Company transfers part of their risk to XYZ Insurance Company. This situation is called To be classified as a small employer in Washington, an employer must employ Fraternal Benefit Society has each of the following characteristics EXCEPT A rehabilitation benefit is intended to A tax-free Section 1035 Exchange of a life insurance policy to a different policy is permitted if it occurs A policyholder has a major medical plan with a 80%/20% coinsurance and a deductible of $75. If the insured has previously met her deductible and receives a bill for $175, how much will the insurer pay? A producer who is licensed in Washington but resident in another state is called a Which of these is NOT considered to be a purpose of an annuity? A Medicare Supplement policy's outline of coverage MUST include a(n) Which of the following does restorative dental treatment cover? Craig purchased a life insurance policy for enabling his heirs to pay estate taxes. What is this called? Ambiguities in an insurance policy are always resolved in favor of the Which of the following is Medicare Part B also known as? Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Which of the following products would allow him to accomplish this? A clause that allows an insurer the right to terminate coverage at any anniversary date is called a(n) Which of the following is NOT information found in a life insurance buyer's guide? The Life and Disability Guaranty Association provides funds to carry out its powers and duties by assessing 60% tax-deferred basis changes made by the producer The annuitant's life expectancy determines the annuity payments protecting the business by covering entry level employees with life insurance appointment Primarily describes the free-look period internist duplicate Medicare benefits 60 The insured does not meet established underwriting requirements accumulate without interest insurer time deductible Universal life policy reinsurance 1-50 employees Exist for the benefit of its members prepare the insured to return to employment from insurer to insurer and no cash is received by the policyowner 140 nonresident producer Annuities are intended to create an estate description of policy benefits Crowns Estate Conservation insured Medical insurance Child term rider optional renewable clause How to take legal action against an insurance company member insurers Shirley has a Medigap policy, which is designed to pay costs associated with An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a(n) Claims payable to a Disability Income insured, even when the insured can continue to work, are the result of a People with higher loss exposure have the tendency to purchase insurance more often than those at average risk. This is called Ron has a new employer and wishes to enroll in the company's group health plan. In determining whether his pre-existing health condition applies, Ron cannot have more than a ___ day gap without previous health insurance. When calculating the amount of life insurance needed for an income earner, what has to be determined when using the Needs Approach? All of the following riders can increase the death benefit amount EXCEPT After a disability policy has been in force for ___ year(s), it is considered incontestable. What enables applicants to compare different life insurance policies and helps them choose which policy is best for their needs? The premium for a Modified whole life policy is According to the Affordable Care Act, any plan in existence prior to which date is considered a grandfathered plan? The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. The two plans are feefor-service and What is involved when a life insurance policy has been backdated? Preferred provider organization An insurer has the right to recover payment made to the insured from the negligent party. These rights are called All of the following are qualifications for establishing a health savings account (HSA) EXCEPT A temporary license is valid for a maximum of __ days Which contract element is insurable interest a component of? A health care provider claim may be settled using which of the following payment methods? Sonya applied for a health insurance policy on April 1. Her agent submitted the information to the insurance company on April 6. She paid the premium on May 15 with the policy indicating the effective date being May 30. On which date would Sonya have cove A Modified Endowment Contract (MEC) is best described as Which of the following policies does NOT build cash value? Upon policy delivery, which of the following must a producer have an applicant sign if no initial premium was collected with the life insurance application? Which market index is normally associated with an indexed annuity's rate of return? A policyowner suffers an injury that renders him incapable of performing one or more important job duties. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Which of these would be the best example of a limited pay life insurance policy? Shawn, Mike, and Dave are brothers who have a $100,000 "first to die" joint life policy covering all three of their lives. If Mike dies first, the policy proceeds All of these are typically sources of underwriting information for life or health insurance EXCEPT States that have "no loss no gain" laws require a replacing policy to Who were Keogh plans designed to provide pension benefits for? A Roth IRA owner must be at least what age in order to make taxfree withdrawals? A pharmacy benefit covers prescription drugs derived from a list called a(n) Medicare Parts A and B group HMO Presumptive disability adverse selection 63 The family's financial objectives if the income earner were to die or become disabled Waiver of Premium 2 buyer's guide lower than the typical whole life policy during the first few years and then higher than typical for the remainder March 23, 2010 prepaid Making the policy effective on an earlier date than the present Managed care plan subrogation Enrolled in a health plan with a prescription drug benefit 180 Legal purpose Fee-for-service may 30 A life insurance contract which accumulates cash values higher than the IRS will allow term A good health statement S & P 500 Partial disability Whole life policy with premiums paid up after 20 years will no longer provide insurance protection Disclosure authorization response pay for ongoing claims under the policy it replaces The self-employed 59 1/2 and owned account for a minimum of 5 years administrative drug list Which of the following is NOT a required provision in an accident and health insurance policy? Which of the following is considered to be an alternative to a life settlement? The standard grace period for a group life insurance policy sold in Washington is ___ days. The Right-to-Examine period is ___ days for all Long-Term Care Policies sold in Washington. The waiting period for a disability insurance policy Ownership of a life insurance policy may be temporarily transferred with a(n) Coverage for newborns under an accident and health (disability) plan MUST include coverage for All of these are standard exclusions found in a life insurance policy EXCEPT All of the following are examples of a Business Continuation Plan EXCEPT A form of medical health insurance covering the treatment and care of gum disease is called Which type of life insurance policy pays the face amount at the end of the specified period if the insured is still alive? A rollover from a Traditional IRA to another IRA MUST be done within ___ days to avoid tax consequences. Matt is applying for life insurance and requests a double indemnity rider. A double indemnity benefit will be payable to Matt's beneficiary if Matt Credit Accident and Health plans are designed to A renewable Term Life insurance policy allows the policyowner the right to renew the policy A type of policy that would help pay for uncovered Medicare claims is called Which of these riders will pay a death benefit if the insured's spouse dies? Kathy's annuity is currently experiencing tax-deferred growth until she retires. Which phase is this annuity in? A Renewable Term Life insurance policy can be renewed What happens to interest earned if the annuitant dies before the payout start date? How are survivorship life insurance policies helpful in estate planning? An annuitant dies during the distribution period. What kind of annuity will return to a beneficiary the difference between the annuity value and the income payments already made? Which of these is NOT an Unfair Claims Settlement Practice? Which of these would limit a company's liability to provide insurance coverage? An insured has a health plan that pays established amounts in accordance with a list of injuries, surgical procedures, or other losses. This list is called a The deeds and actions of a producer indicate what kind of authority? A producer may be disciplined by the Commissioner for which of the following actions? The branch of dentistry which deals with the replacement of missing parts is called Replacement can be BEST described as An indemnity plan Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. An employer is issued a group medical insurance policy. This single contract is known as a(n) A policy owner may change two policy features on what type of life insurance? When does a life insurance policy typically become effective? Within how many days must a Traditional IRA be rolled over to another IRA in order to avoid tax consequences? An example of an unfair claims settlement practice is Proof of loss on a health (disability) insurance claim must be submitted to an insurer within ___ days after the insured's date of loss. change of occupation Accelerated death benefit rider 31 30 excludes payments for a short-term illness or injury collateral assignment birth abnormalities disability Deferred Compensation Dental expense insurance Endowment policy 60 dies instantly from a car accident help pay off existing loans during periods of disability without producing proof of insurability Medicare Supplement Family term insurance rider Accumulation period at a predetermined date or age, regardless of the insured's health It is taxable Provide funds to help pay taxes Refund annuity Settling a claim by arbitration Exclusion benefit schedule Apparent Misappropriation of premium funds Prosthodontics exchanging a new policy for one already in force provides the insured a specific dollar amount for services Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. master policy Adjustable Life When initial premium is collected and policy is issued 60 turning down a claim without providing the basis of denial 90 Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Ted has a health insurance plan that requires him to pay a specific sum out of pocket before any benefits are paid in a calendar year. Which of these does his health plan have? A permanent life insurance policy where the policyowner pays premiums for a specified number of years is called a(n) Within ___ days after policy delivery, disability policies can be returned for a 100% premium refund. A rider that assures premiums will be paid on a juvenile policy until the child reaches a specific age is called a(n) How do interest earnings accumulate in a deferred annuity? When a whole life policy is surrendered, income taxes may be owed In group health care, what is the purpose of the coordination of benefits provision? It would be considered taxable income to the employee Calendar-year deductible limited pay policy 10 payor rider On a tax-deferred basis When a whole life policy is surrendered, income taxes may be owed Determines what is paid by the primary and secondary insurers in the event of a claim