Which of the following is true regarding the treatment of pre-existing conditions in Medigap and LTC polices?

a. Pre-existing conditions which were present six months prior to the policy's effective date may be excluded for a maximum of three months after the effective date of coverage.

b. Pre-existing conditions which were present six months prior to the policy's effective date may be excluded for a maximum of six months after the effective date of coverage.

c. Pre-existing conditions which were present 12 months prior to the policy's effective date may be excluded for a maximum of six months after the effective date of coverage.

d. Pre-existing conditions which were present six months prior to the policy's effective date may be excluded for a maximum of 12 months after the effective date of coverage.

Answer: c. Pre-existing conditions which were present 12 months prior to the policy's effective date may be excluded for a maximum of six months after the effective date of coverage.

Pre-Licensing Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

In insurance,

In insurance, A) contracts made by the agent are considered to be contracts of the producer B) contracts made by the principal are considered to be contracts of the agent C) the insurer is the principal and the producer is the agent D) the producer is the principal and the insurer is the agent Answer: the insurer is the principal and the producer is the agent

Which is generally true regarding insureds who have been classified as preferred risks

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