Chapter 7 Test: Health Provisions
What is not include in the policy face?
exclusions (policy face is the 1st page of the policy)
Periodic health claim payments MUST be made at least
monthly
If an insurance company issues a Disability Income policy that it cannot cancel or for which it cannot increase premiums, the type of renewability that best desribes this policy is called
noncancellable
what best describes a short term medical expense policy?
nonrenewable
what statement about Guaranteed Renewable Health Insurance policy is correct?
policy normally increases at the time of renewal
Time Limit on Certain Defenses
- The policy is incontestable after it has been in force for a period of time. - 2 Years - limits the time during which an insurance company may challenge the validity of an insurance claim on the basis of a misstatement on the insured's application
An insurer must provide an insured with claim forms within __ days after receiving notice of a loss.
15
When does a Probationary Period provision become effective in a health insurance contract?
At the policy's inception
"A producer does not have the authority to change a policy or waive any of its provisions". The health provision that best describes this statement is called the
Entire Contract
T applied for a Disability Income policy and has a history of back injuries. The insurer issued the policy with a statement that excludes coverage for back injuries. This statement is called a(n)
Impairment Rider
What is considered a mandatory provision?
Payment of Claims
Under an individual Health Insurance policy, the Time Limit of Certain Defenses provision states that no fraudulent misstatements 1st become inconceivable 2 years...
from the date, the policy was issued
T sends proof of loss to her insurer for an acceptable medical expense claim under her individual Health Insurance policy. Upon receipt, the insurer must pay the benefits
immediately
minimum number of days for Grace Period Provision
weekly payments - 7 days Monthly payments - 10 days Annual Payments - 31
