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Free Virginia-Life-Annuities-and-Health-Insurance Exam Braindumps
Virginia Life, Annuities, and Health Insuranceination Series 1101 Questions 176–180 (page: 37)

Updated On: 10-Feb-2026
Page 37 of 89
PDF with 440 Questions

Which one of the following statements about the accidental death benefit rider in life insurance is true?

  1. It requires the payment of an additional premium
  2. It is part of every life insurance policy
  3. It is available only to preferred risks
  4. It increases the amount of nonforfeiture benefits

Answer(s): A

Explanation:

Accidental death benefit (ADB) riders pay an additional death benefit if death results from accidental causes. It is not automatically included in every policy and requires an additional premium. Exact extract: "The accidental death benefit rider provides extra coverage in the event of accidental death and is available only by payment of an additional premium." It does not affect cash values or nonforfeiture options.


Reference:

Virginia Life Insurance Study Guide -- Policy Riders.
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All of the following statements about tax-sheltered annuities (TSAs) are true EXCEPT:

  1. Only employees of certain tax-exempt organizations may participate
  2. The employee is normally the applicant, owner, and annuitant under the contract
  3. The employee issues periodic personal checks to purchase the contract
  4. An employee's rights under the contract are nonforfeitable

Answer(s): C

Explanation:

Tax-sheltered annuities (403(b) plans) are funded by employer salary reduction agreements, not personal checks written directly to the insurer. Eligible participants are employees of nonprofit or educational institutions. Exact extract: "Contributions to tax-sheltered annuities are made by salary reduction agreements; employees of public schools and nonprofit organizations are eligible."


Reference:

Virginia Annuities Study Guide -- Qualified Plans and 403(b) TSAs.

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In a noncancelable disability income policy:

  1. The premium cannot be increased above the schedule specified in the policy
  2. The premium can be increased at the insurer's will
  3. The insured has no renewal rights
  4. The insurer can refuse to renew the policy

Answer(s): A

Explanation:

Noncancelable policies guarantee both renewability and level premiums. The insurer cannot raise rates or cancel coverage as long as premiums are paid. Exact extract: "A noncancelable policy may not be canceled nor may premiums be increased by the insurer beyond what is stated in the contract." This makes noncancelable coverage the most consumer-friendly disability policy type.


Reference:

Virginia Disability Income Study Guide -- Renewability Provisions.
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A point-of-service (POS) health plan is best defined as a plan that:

  1. Operates like an HMO plan without a gatekeeper
  2. Combines indemnity plan features with those of HMOs or preferred provider plans
  3. Permits coverage for non-network providers only when in-network care is unavailable
  4. Covers treatment received at specific locations only

Answer(s): B

Explanation:

A POS plan blends characteristics of HMOs and PPOs/indemnity plans. Like an HMO, members choose a primary care physician, but they can also go out-of-network and receive partial reimbursement (similar to indemnity coverage). Exact extract: "POS plans combine features of HMOs and indemnity plans, permitting members to seek care within the network or outside the network at higher cost-sharing." This flexibility allows broader provider choice while controlling costs through the HMO model.


Reference:

Virginia Life, Annuities, and Health Study Guide -- Managed Care Plans.
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For a life insurance accidental death benefit to be paid, all of the following conditions usually must be satisfied EXCEPT:

  1. Death must result from accidental bodily injury
  2. Death must occur within a specified number of days after the injury
  3. Death must result from a job-related injury
  4. The injury must occur prior to some specified age

Answer(s): C

Explanation:

Accidental death benefit riders require proof of accidental cause, timely death after injury, and age restrictions. They do not require the death to be work-related. Exact extract: "Accidental death benefits are payable if death results from accidental injury, occurs within a stated period (often 90 days), and before a specified age, usually 60­65." Job-relatedness is irrelevant unless specifically excluded (e.g., hazardous occupation).


Reference:

Virginia Life Insurance Study Guide -- Policy Riders.
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