Health and accident insurance

Which statement is true regarding a minor beneficiary?

Normally, a guardian is required to be appointed in the Beneficiary clause of the contract

A business disability buyout plan policy is designed

to pay benefits to the Corporation or other shareholders

An insurance company would most likely Pay benefits under an accidental death and dismemberment policy for which of the following losses?

Loss of eyesight due to an accidental injury

J has an Accidental Death and Dismemberment policy with a principal sum of $50,000. While trimming the hedges, J cuts off one of his fingers. What is the MAXIMUM J will receive from his policy?

$25,000

Accidental death coverage is provided to commercial airline passengers in which of the following types of policies?

Blanket Accident policy

The federal income tax treatment of employer-provided group medical expense insurance can be accurately described as

Employee's premiums paid by the employer is tax-deductible to the employer as a business expenditure

The health insurance portability and accountability act (hippa) gives privacy protection for

Health information

How would a contingent beneficiary receive the policy proceeds in an Accidental Death and Dismemberment (AD&D) policy?

If the primary beneficiary dies before the insured

How does group insurance differ from individual insurance?

Premiums are lower

T is covered by two health insurance plans: a group plan through his employer and his spouse's plan as a dependent. When T submits a claim, his employer's plan is considered what type of carrier under the Model Group Coordination of Benefits provision?

Primary carrier

P is an employee who quits her job and wants to convert her group health coverage to an individual policy. After the expiration of COBRA laws, which of the following statements is TRUE?

She does NOT need to provide evidence of insurability

Which mode of payment is NOT used by health insurance policies?

Single Premium

A business overhead expense policy would cover which of the following is a business owner becomes disabled?

Utilities and office rent

A business overhead expense policy

covers business expenses such as rent and utilities

An accident policy will most likely pay a benefit for a(n)

off-the-job accident