The medical expense policy provision that requires the insurer to pay 100% of covered expenses over a certain specified amount after the insured has paid the policy deductible is called the:

a. Stop-gap.

b. Co-insurance maximum.

c. Policy umbrella.

d. Stop-loss.

Answer: D

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

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A domestic insurer issuing variable contracts must establish one or more
All of the following statements concerning the use of life insurance as an Executive Bonus are correct EXCEPT
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The pro rata liability clause is designed to protect the principle of
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Life insurance policies will normally pay for losses arising from
Which of the following statements regarding the taxation of Modified Endowment Contracts is FALSE
Ambiguities in an insurance policy are always resolved in favor of the
In an insurance contract, the applicant's "consideration" is the
Agents may be found guilty of defamation if they make a false statement that is intended to?
How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
The voluntary relinquishment of a legal right is called
What documentation grants express authority to an agent?
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All of the following entities regulate variable life policies EXCEPT
The pro rata liability clause is designed to protect the principle of
When the principal gives the agent authority in writing, it's referred to as
What is the benefit of choosing extended term as a nonforfeiture option?
All of the following are TRUE regarding the convertibility option under a term life insurance policy EXCEPT
All of the following statements concerning dividends are true EXCEPT:
All of the following are true regarding rebates EXCEPT
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All of the following are elements of an insurance policy EXCEPT
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What is the purpose of establishing the target premium for a universal life policy?
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What documentation grants express authority to an agent?

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