As of January 1, 2022, consumers have new billing protections when getting emergency care, non-emergency care from out-of-network providers at in-network facilities, and air ambulance services from out-of-network providers. Through new rules aimed to protect consumers, excessive out-of-pocket costs are restricted, and emergency services must continue to be covered without any prior authorization, and regardless …
Beginning February 16, 2021, the provisions of the DOL’s new Fiduciary Rule became effective, including the expanded definition of fiduciary and Impartial Conduct Standards under new and amended prohibited transaction exemptions. The DOL provided a non-enforcement grace period that will expire on February 1, 2022. This Rule represents the most significant change to retirement investment …
Department of Labor (DOL) Fiduciary Rule and Impartial Conduct Standards (PTE84-24) Read More »
If the applicant selects to add a disability rider, the insurance company will pay the premiums on the policy if the disability claim approved. The insured needs to be disability for period of time as outlined in the rider. It is the responsibility of the insured to notify the insurance company or agent of this …
What is a disability rider on a life insurance policy? Read More »
Since the applicant is asked questions about their occupation, hobbies, height, weight and health history, the insurance company has the right to check if those answers were correct for two years following the issue date of the policy. The “burden of proof” is on the insurance company that a answer concealed something that had the …
What is the contestable period in a life insurance policy? Read More »
Effective January 1, 2022 under Public law 102-545, it added Section 235.1 was added to the insurance code. This added a new level of protection for insured from losing their coverage as a result of memory loss or dementia. This bill was sponsored by State Senator Napoleon Harris III and had the full sponsor of …
No. When the policyowner names their estate as beneficiary, it opens the doors for creditors to make a claim on the proceeds. All estates go through a legal process called probate. The courts appoints an administrator or executor for the estate after an attorney files the paperwork. The executor is responsible for gathering assets and …
Almost all states have statues dealing with this issue. In each state, the requirement is for the company to pay claims promptly (within 30 days) once their liability is clear. Interest rates vary from state to state. A common issue found in market conduct examination by the state regulators is lack of notice of the …
Are insureds entitled to interest on delayed claims? Read More »
Every licensed Iowa resident producer must complete a minimum of 36 credits for each CE term in courses approved by the Iowa division. Three of these credits must be in the subject of ethics. Producers are no longer required to do 18 hours of classroom CE. A producer may receive CE credits for self-study courses …
My Iowa insurance license is coming up for renewal, what must I do? Read More »
As long as you complete your home state requirements for continuing education and your are currently licensed , you can renew your nonresident license for Missouri at www.nipr.com
