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- Question: 1) Which of the following is an example of mandatory deduction? A) Medical insurance. B) Union subscription C) Life insurance D) FNPF required: please answer this question by choosing the right option. *right/correct answer*If a term life insurance policy isconvertible, it can be: Question38 options: a) revised as neededby the insurer. b) transferred tothe life of another person in thefuture. c) changed to health ordisability protection. d)exchanged for cash in the future.e) changed to a comparablewhole life policy in the future.Which type of insurance is not deductible as self-employed health insurance? a. Long-term care insurance O b. Medical insurance Oc. Disability insurance Od. Dental insurance Oe. Spousal medical insurance
- Which of the following is NOT true about a temporary insurance agreement? Select one: a. It can only cover life insurance and living benefits b. It expires the date the policy becomes effective c. The applicant will submit the premium with the application d. It can be provided if the agent believes the policy will be issuedBriefly explain the following characteristics of long-term care insurance. Type of long-term care policies Triggers to become eligible for benefits Exclusions Protection against inflationLoans are available from term life insurance policies. a. True b. False Group of answer choices True False
- Which of the followings is NOT correct about life insurance? O a. To meet an insured person's debts and other financial commitments in the event of death. O b. To provide a financial benefit to dependents upon premature death of an insured person. O C. To provide a sum of money if an insured person got a fire in his factory. O d. To pay for urgent medical expenses to save the life of an insured person if that is needed.When planning life insurance coverage, you should differentiate between ongoing expenses and expenses that are considered "one-time". a) True b) FalseQuestion 4: Of the cafeteria plans listed, which is NOT a voluntary nontaxable deduction? Answer: A. O Medicare В. O Group-term life insurance С. O Medical care reimbursements D. O Adoption assistance
- Which of the following statements regarding the Patient Protection and Affordable Care Act (ACA) is true? Group of answer choices a. The ACA eliminates lifetime limits on total health care insurance payments by insurers. b. The ACA limits the total number of surgeries for the insurers. c. The ACA requires employers to reimburse the cost of hospital stays of the insured. d. The ACA decides the insurance payments for dependents. e. The ACA provides major medical insurance with low deductibles to protect against catastrophic illnesses.The least expensive form of whole life insurance protection is: A. limited payment. B. term. C. universal. D. straight life.An important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pocket price is the price that the insurance customer faces. Sometimes, the out-of-pocket price depends on the list price. Now assume the consumer is part of a partial insurance plan with a coinsurance provision. Her insurance pays 50% of all medical expenses. Consider again the relationship between PL and PP and plot a coinsurance plan demand curve in PL - Q space. Label this curve D3. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q. Consider again the relationship between PL and PP and plot a copayment-plan demand curve in PL - Q space. Label this curve D4.