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3 Cards in this Set
- Front
- Back
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A long term care policy prohibited provision |
Cancels norenews or terminate policy on the grounds of a deterioration of mental or physical health of the insured provides coverage for only skilled nursing care instead of lower levels of care limit are denies benefits to a policyholder who was the diagnosed with any destructive brain tissue disease that will result in loss of brain function |
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To address adverse selection what can an insurer legally do |
Underwriting helps to protect agent against adverse selection and accepting risk that are more likely the average to suffer losses established and enforce sound underwriting practices |
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Premiums are not tax deductible and benefits are subject to federal income tax a federal income FICA tax |
Premiums paid with after tax dollars Income Benefit not taxable individually on disability income policy |
