FAQ: Which Of The Following Situations Are Not Subject To Florida Life Insurance Laws?

Which of the following situations are NOT subject to Florida life insurance laws? Florida life insurance laws apply to all of these situations EXCEPT “Insurance companies’ day-to-day operations“. The correct answer is “they are insured by an authorized insurer”.

Which of the following situations does not apply to the Florida?

Mutual company is owned by its policyholders. Which of the following situations does NOT apply to the Florida Replacement Rule? Florida’s Replacement Rule applies to all of these situations EXCEPT ” An existing policyholder purchases an additional policy from the same insurer “. You just studied 146 terms!

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Which of the following may not be excluded from a group life plan?

Which of the following employees may NOT be excluded from a group life plan? Full-time employees after the probationary period. (All of these employees may be excluded from a group life plan except for “Full time employees after the probationary period”).

Which of the following factors is not considered when the Department of Financial Services determines if an agents home is an insurance agency?

The Department of Financial Services does not take into consideration the amount of premium collected at an agent’s home when determining whether or not the home is an insurance agency. (Correct.) “funded by admitted insurance companies through assessments”.

In what circumstances would a life insurance policy not pay out to the beneficiary?

If you die while committing a crime or participating in an illegal activity, the life insurance company can refuse to make a payment. For example, if you are killed while stealing a car, your beneficiary won’t be paid.

Which of the following is not considered a rebate?

Which of the following is not considered a rebate? Various payment or budget plans are not considered rebating. Rebating is an illegal activity.

What is Florida’s definition of life insurance replacement?

What is Florida’s definition of Life insurance replacement? A transaction in which coverage on an existing policy is increased. A transaction in which group life coverage is converted to an individual policy.

What type of situations are excluded from receiving life insurance payments?

Other Reasons Life Insurance Won’t Pay Out Family health history. Medical conditions. Alcohol and drug use. Risky activities.

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Which of the following is not a required provision in group life policies?

Which provision is NOT a requirement in a group life policy? An AD&D provision is not required in a group life policy. The correct answer is “the entire cost of the plan is paid for by the employer”. When an employer provides noncontributory group term life insurance, the employer pays the entire cost of the plan.

Which of the following is not a component of an insurance policy premium?

Which of the following is NOT a component of determining policy premiums? Dividends are not a component when determining policy premiums.

Which of the following health policy provision states that the producer does not have the authority?

Which of the following health policy provisions states that the producer does NOT have the authority to change the policy or waive any of its provisions? Entire Contract. (The Entire Contract provision states that the producer does NOT have the authority to change the policy or waive any of its provisions.)

Is hazard insurance required in Florida?

Hazard insurance in Florida isn’t required by law, but many mortgage lenders insist you have hazard coverage before closing on a home loan. A policy can protect your home from fire, theft, and bad storms. Keep in mind that the policy type and coverage you need can vary by property and location.

What is Florida Employee health Access Act requirements?

The Florida Health Care Access Act allows small businesses to provide group health insurance coverage for its employees on a guarantee-issue basis regardless of health circumstances, preexisting conditions, or claims history.

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When can you not claim life insurance?

Kantor says the most common reason insurers give for denying life benefits is if you fail to disclose information needed to accurately measure the risk of a policy payout. “If you applied for coverage and) you didn’t honestly answer the questions, that’s grounds for them to deny your claim,” Kantor says.

Which of the following is a common life insurance policy exclusion?

Suicide – Most life insurance policies list suicide as an exclusion. Insurance companies will typically not pay out a death benefit if the insured person commits suicide within two years after the purchase of the policy. However, beneficiaries may receive a refund of the premiums that have been paid.

What health conditions affect life insurance?

Common health conditions that might affect life insurance premiums are:

  • High blood pressure.
  • High cholesterol.
  • Obesity.
  • Anxiety.
  • Heart disease.
  • Acid Reflux.

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