Health quiz 1
How are state insurance Guaranty associations funded
BY their members-authorized users
Under the Accidental Death and Dismemberment (AD&D) coverage, what type of benefit will be paid to the beneficiary in the event of the insured's accidental death?
Capital sum
if an applicant for a health insurance policy is found to be a substandard risk, the insurance company Is more likely to
Charge an extra premium
In a group prescription drug plan, the insured typically pays what amount of the drug cost?
Co payment
What is an important feature of a dental expense insurance plan that is not typically found in a medical expense insurance plan?
Diagnostic and preventive care
Bc of her history of cancer in her family. Julie purchased a policy that specifically covers the expense of treating cancer. Her policy would be classified as what?
Dread disease Policy
Under a typical health insurance policy, claims that result from injuries while the insured was intoxicated or under the influence of drugs are generally
Excluded
which of the following entities protects policy owners insureds and beneficiaries under insurance contracts when insurers fail to perform contractual obligations due to financial impairment?
Insurance Guaranty association
What is a franchise insurance?
It is health coverage for small groups whose numbers are too small to qualify for true group insurance
Who is involved in completing the agents report
Only the agent
Which document helps ensure that full and fair disclosure is provided to the recipient of a policy?
Outline of coverage
Underwriting is a major consideration when an insured wishes to replace her current policy for all of the following reasons EXCEPT
Premiums always stay the same
Health insurance underwriting is best defined as
Selection, classification and ratings of risk
An insured who has accidental death and dismemberment policy loses her left arm in an accident. What type of benefit will she most likely receive from the policy?
The capital amount in lump sum
which of the flowing is true regarding limited health insurance policies?
They only cover specific accidents or diseases
Under a credit disability policy, payments to the creditor will be made for the insurer until what point in time?
Until the disability ends or the debt is satisfied
Which Is NOT true regarding an insured who is considered to be a standard risk
higher premiums
A typical accidental death and dismemberment policy covers all of the following losses EXCEPT
income
Most policies will pay the accident death benefits as long as the death is caused by the accident and occurs within
90 days
In underwriting a substandard risk, which of the following is INCORRECT?
A discounted premium would be charged
