Auto
How long after an accident must death occur for S coverage to pay out?
1 Year
What policy and endorsement must be present to cover an Airbnb?
Homeowners policy with the home rental endorsement.
What is the term for the period during which a policyholder can cancel their policy and receive a full refund of premiums paid?
Free Look Period
What is the maximum monthly income benefit provided by Long Term Disability Insurance?
$20,000
What is the limitation for the number of rental properties that can be covered under the PLUP before the rental properties must be listed under a CLUP?
4; 5+ rental properties would have to be listed under the CLUP
What is the maximum amount of time a policy can consecutively have Good Driving Discount?
3 years. After this point it would become AFD.
What is the lowest deductible that can be seen on a State Farm Homeowners policy?
$500 on grandfathered policies.
Name three riders available on a Universal Life Policy?
Flexible Care Benefit Rider, Children's Term Rider, Guaranteed Insurability Option, Additional Insured's Level Term Rider
Which rider is designed to extend the regular occupation coverage for an additional period?
The rider designed to extend the regular occupation coverage for an additional period is the Five Year Regular Occupation Extension Rider.
How many units does a rental property need to classify as an apartment policy?
3 or more units
What percentage of loss will T coverage pay after the first 7 days of total disability?
70%
In what states is a Declination of Earthquake Coverage form required?
Only in Arkansas.
What is the youngest age you can apply for a term product?
16 with and Instant Answer.
How much will a Supplemental Health Insurance Plus Policy pay for an emergency room visit due to sickness?
$0, the emergency accident benefit only covers in the instance of injury.
Mobile food trucks will need at least 2 lines of business to ensure proper coverage. What are they?
Commercial auto to cover the food truck while it is traveling to and from locations & BOP to cover the restaurant/business exposure.
What is the name of the servicing company that we wile glass claims through?
Lynx
With Home Systems Protection what sublimit applies to equipment manufactured 15 years or more prior to the breakdown?
$2,000
What is it called when we run an illustration with a term, ROP, and whole life?
Triple Play/Triple Option
What is the once annual amount that a Supplemental Health Policy cover for hospital admittance?
$3500
Contractor’s and Worker’s Compensation policies are considered ________ policies at each policy renewal.
Auditable
What is the maximum amount covered for funeral expenses under Medical Payments Coverage?
$5000
What is the company we use for pet insurance?
Trupanion
What is the highest table rating available?
Table 40
What is the most comprehensive Medicare supplement offered by State Farm?
Plan G.
Most professional liability policies, as well as Directors and Officers Liability and Employment Practices Liability, are written on a____________ basis.
Claims made
i. The insurance industry developed Claims-Made coverage primarily to address "long-tail" liability exposures--i.e., where a claim is made today, resulting from an incident that took place years ago. Insurers have difficulty pricing and providing coverage, when claims are made five, ten and twenty or more years after a policy expired.