Free Virginia-Life-Annuities-and-Health-Insurance Exam braindumps download (Virginia-Life-Annuities-and-Health-Insurance exam dumps Free)

QUESTION: 161

The "free look" provision in individual health insurance allows the insured a period of time to:

Try a policy without paying for it
Compare insurance policies
Change coverage on a policy without changing the premium
Cancel the policy and receive a full refund

Answer(s): D

Explanation:

The free-look provision ensures policyholders may review their contract and, if dissatisfied, return it for a full refund. Exact extract: "The insured may return the policy within 10 days of delivery for a full refund of all premiums."

Reference:

Virginia Administrative Code--Standard Provisions for Individual Health Policies.
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QUESTION: 162

Which statement about an adjustable life insurance policy is true?

Evidence of insurability may be required when the amount of insurance is increased
It is a form of variable annuity
It is most appropriate for people who are over age 50
The plan of coverage may be changed only if the new form of coverage has a lower premium

Answer(s): A

Explanation:

Adjustable life allows policyholders to adjust face amount, premium, or coverage period. Increases in coverage may require proof of insurability. Exact extract: "Adjustable life permits increases in coverage, subject to evidence of insurability."

Reference:

Virginia Life Insurance Licensing Study Guide--Adjustable Life.
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QUESTION: 163

An agent convicted of a felony must report the conviction to the Commission:

Within 15 calendar days
Within 30 calendar days
Within 45 calendar days
On the next license renewal date

Answer(s): B

Explanation:

Virginia requires licensees to report felony convictions within 30 days. Exact extract: "A licensed agent shall report to the Commission any felony conviction within 30 calendar days."

Reference:

Virginia Code Title 38.2--Agent Reporting Requirements.
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QUESTION: 164

The document given to employees under a group life insurance plan that describes the basic features of the life insurance coverage is:

A joinder agreement
A certificate of insurance
An application certificate
A life policy binder

Answer(s): B

Explanation:

Employees under group life plans receive certificates of insurance summarizing coverage, not full policies. Exact extract: "Each employee insured under a group life policy shall be given a certificate of insurance describing coverage."

Reference:

Virginia Life Insurance Licensing Study Guide--Group Insurance.
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QUESTION: 165

Medical expense insurance typically EXCLUDES coverage for:

Hospital care extending past 30 days
Expenses incurred for primarily cosmetic surgery
Maternity care benefits
Hospital laboratory tests

Answer(s): B

Explanation:

Most medical expense policies exclude elective cosmetic procedures unless medically necessary. Exact extract: "Policies may exclude benefits for cosmetic surgery unless required to correct accidental injury or congenital defect."

Reference:

Virginia Accident and Health Insurance Standards.
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Free Virginia-Life-Annuities-and-Health-Insurance Exam Braindumps Virginia Life, Annuities, and Health Insuranceination Series 1101 Questions 161–165 (page: 34)

QUESTION: 161

Explanation:

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QUESTION: 162

Explanation:

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QUESTION: 163

Explanation:

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QUESTION: 164

Explanation:

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QUESTION: 165

Explanation:

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Free Virginia-Life-Annuities-and-Health-Insurance Exam Braindumps
Virginia Life, Annuities, and Health Insuranceination Series 1101 Questions 161–165 (page: 34)