health and accident

Which of these circumstances is a Business Disability Buy-Sell policy designed to help in the sale of a business?

Business owner becoming disabled

Which of the following is the reimbursement of benefits for the treatment of a beneficiary's injuries caused by a third party?

Subrogation

Which statement is TRUE regarding a group accident & health policy issued to an employer?

The employer is the policyowner and each employee receives a certificate of coverage

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

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

The provision in a Group Health policy that allows the insurer to postpone coverage for a covered illness 30 days after the policy's effective date is referred to as the

Waiting Period

Which contract permits the remaining partners to buy-out the interest of a disabled business partner?

Disability Buy-Sell

The Health Insurance Portability and Accountability Act (HIPAA) gives privacy protection for

health information

Which of the following characteristics are associated with a large group disability income policy?

No medical underwriting

When an employee is required to pay a portion of the premium for an employer/employee group health plan, the employee is covered under which of the following plans?

Contributory

Which of the following statements does NOT accurately describe the tax treatment of premiums and benefits of individual Accident and Health insurance?

Disability income policy premiums are tax-deductible

Which of the following statements BEST describes how a policy that uses the "accidental bodily injury" definition of an accident differs from one that uses the "accidental means" definition?

Less restrictive

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

The benefits under a Disability Buy-Out policy are

payable to the company or another shareholder

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

Which of the following statements is correct regarding an employer/employee group health plan?

the employer receives a master policy and the employees receive certificates

How does group insurance differ from individual insurance?

Premiums are lower

XYZ Company pays the entire premium for its group health plan. The MINIMUM percentage of eligible employees that must be covered is

100%

S is employed by a large corporation that provides group health coverage for its employees and their dependents. If S dies, the company must allow his surviving spouse and dependents to continue their group health coverage for a maximum of how many months under COBRA regulations?

36

Under which of the following circumstances do the benefits under COBRA continuation coverage expire?

All group health plans are eliminated by the employer

The difference between group insurance and blanket health policies is

Blanket health policies do not issue certificates

Many small business owners worry how their business would survive financially if the owner becomes disabled. The policy which BEST addresses this concern is

Business Overhead Expense

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

A Business Overhead Expense policy would cover which of the following if a business owner becomes disabled?

Utilities and office rent

All students attending a large university could be covered by

a blanket policy

A Business Overhead Expense policy

covers business expenses such as rent and utilities

The reason for a business having a Business Overhead Expense Disability Plan is to cover

fixed business expenses