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Free Virginia-Life-Annuities-and-Health-Insurance Exam Braindumps
Virginia Life, Annuities, and Health Insuranceination Series 1101 Questions 196–200 (page: 41)

Updated On: 10-Feb-2026
Page 41 of 89
PDF with 440 Questions

Generally, an indemnity plan which covers dental expenses:

  1. Rarely requires an insured to pay a deductible or coinsurance portion for major services such as crowns
  2. Covers preventive care for adults and children once every six months
  3. Covers all dependent family members living in the insured's household, including dependent parents
  4. Only allows insureds to be treated by certain preselected providers

Answer(s): B

Explanation:

Dental indemnity plans reimburse insureds for covered services up to specified amounts. Preventive services such as cleanings, exams, and fluoride treatments are typically covered every six months for both adults and children. These plans generally do not limit members to a network of providers, unlike managed care dental plans, but they do require deductibles and cost-sharing for major restorative work.
Exact Extract (Virginia Dental Plan Filing Requirements): "Preventive dental services--cleanings, exams, fluoride treatments--covered once every six months." Reference (Virginia Documents / Study Guide):
-- Virginia SCC Product Checklist: Individual Stand-Alone Dental Plan Organizations -- Virginia Health Insurance Study Guide, Indemnity vs. Managed Care Plans



An example of a comprehensive health policy is:

  1. A major medical policy
  2. A dental policy
  3. A vision policy
  4. A workers' compensation policy

Answer(s): A

Explanation:

A major medical policy is designed as a comprehensive health policy, covering a wide range of expenses, including hospital, surgical, physician, and prescription costs. It provides broader coverage than limited benefit plans such as dental or vision policies. Workers' compensation is not considered a general health policy because it specifically covers occupational injuries. Exact Extract (Virginia Health Insurance Study Guide): "Major medical insurance--provides comprehensive coverage for hospital, physician, surgical, and other medical expenses, subject to deductibles and coinsurance. Distinguished from limited health expense policies (dental, vision)." Reference (Virginia Documents / Study Guide):
-- Virginia Health Insurance Examination Outline, Section 2.2 Comprehensive vs. Limited Policies



Life insurance death proceeds are normally includable in a deceased insured's gross estate:

  1. For federal income tax purposes only
  2. If the proceeds were paid to or on behalf of the owner-insured's estate
  3. If the insured's beneficiary owns the policy
  4. Only if the policy had cash surrender value

Answer(s): B

Explanation:

Life insurance proceeds are generally exempt from income tax but may be included in the insured's gross estate for estate tax purposes if they are payable to the estate or if the insured retained ownership rights. If the proceeds are paid directly to a named beneficiary, they usually bypass probate and are not part of the taxable estate.
Exact Extract (Virginia Life Insurance Study Guide): "Proceeds of life insurance are included in the insured's gross estate if payable to the estate or if the insured retained incidents of ownership at death."
Reference (Virginia Documents / Study Guide):
-- Virginia Life & Annuities Insurance Examination Outline, Section 6.3 Federal estate tax treatment



The "needs approach" in life insurance is most useful in determining:

  1. Which types of individuals the agent should attempt to meet
  2. The amount of life insurance to be recommended to a client
  3. Which companies offer the best array of life insurance products
  4. The most appropriate method for prospecting new clients

Answer(s): B

Explanation:

The needs approach calculates the amount of life insurance a client should have by analyzing family financial obligations--such as income replacement, education costs, debts, and funeral expenses. This approach ensures sufficient coverage to meet survivors' future needs. Exact Extract (Virginia Life Insurance Study Guide): "The needs approach considers the financial needs of survivors to determine the appropriate amount of life insurance coverage, including income, debt repayment, education funding, and final expenses." Reference (Virginia Documents / Study Guide):

-- Virginia Life & Annuities Insurance Examination Outline, Section 2.1 Needs approach



Employer-paid premiums for qualified long-term care insurance are:

  1. Included in an employee's gross income
  2. Deductible as a business expense
  3. Deductible on an employee's federal income tax return
  4. Reimbursed by the employee

Answer(s): B

Explanation:

Premiums paid by employers for qualified long-term care insurance are tax-deductible as a business expense. For employees, the value of employer-paid premiums is excluded from gross income. This aligns with federal tax treatment and is covered in Virginia's insurance exam outline. Exact Extract (Virginia Insurance Study Guide): "Employer contributions to qualified long-term care insurance premiums are deductible to the employer as a business expense and not taxable to the employee."
Reference (Virginia Documents / Study Guide):
-- Virginia Life & Health Insurance Examination Outline, Section 6.2 Tax treatment of long-term care insurance



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