Question

QUESTION 29 The Qualified State Long Tem Care Partnership program is designed to encourage more people to purchase long-term care insurance. Which of the following statements is not corect regarding Partnership-qualified (PO) long-term policies? PQs include inflation protection, so the dollar amount of benefits received can be higher than the amount of insurance coverage purchased O POs allow people to apply for Medicaid under modified eligibility rules if there is continued need for long-term care after the policy maximum is reached O POs include a special "asset disregard" feature that allows individuals to keep assets like personal savings above the usual $2,000 Medicakd limit. POs allow people to receive a tax credit equal to up to 80 percent of the policy premiums QUESTION 32 Life insurance agents and financial planners who sell VULS must be licensed to sell life insurance, but do not have to have a securities license. O True O False their gross income protected with a disability policy. Generally, individuals who are working should have between 60 and 70 percent of True O False QUESTION 35 David is comparing two health insurance policies that have similar benefit provisions, but one is guaranteed renewable while the ather is non-cancellable. David is not sure of the difference between these provisions, and has come to you for help. Which of the following staternents is correct? ONon-cancellable policies guarantee policy renewal until age 65 with no premium increases. O Guaranteed renewable policies permit the insurance company to increase the premium based on the insured's claim experience, but must offer to renew the policy. Non-cancellable policies are generally less expensive than guaranteed renewable policies. Guaranteed renewable policies may be renewed in the sole discretion of the insurer. QUESTION 36 Alfred, who owns a Bentley automobile, has the following coverage: 100,300,50. This coverage means that he has $300,000 of property damage. O True O False

Answer 1

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