health insurance 6
The Notice of Claims provision requires a policyowner to: provide proof of loss to an insurer within a specified time notify an insurer of a claim within a specified time wait 60 days after filing a claim to initiate a lawsuit against an insurer notify their physician of a claim within a specified time
notify an insurer of a claim within a specified time
Periodic benefit payments must be made no less frequently than: weekly monthly quarterly annually
monthly
On November 10, Ozzie's Major Medical policy is reinstated. He is later injured in an automobile accident on November 13 and immediately hospitalized. Ozzie is eligible for: full benefits partial benefits a return of premiums paid no benefits
full benefits
When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Relation of earnings to insurance provision Change of occupation provision Conformity of state statutes provision Entire contract provisions
"Change of occupation provision"
A disability policy that must be renewed, cannot be cancelled until age 65, and may not have an increase in premium for any reason is called a(n): warranty policy optionally renewable policy noncancellable policy guaranteed renewable policy
"noncancellable policy
The Notice of Claim Provision states that the insured notify the insurance company within __ days of a claim. 7 10 20 31
20
Required Provision 3 states that the minimum grace period for all policies (except those with monthly or weekly premium modes) is: 7 days 14 days 21 days 31 days
31 days
According to Required Provision 4, when an insured applies for reinstatement of a health policy and receives a conditional receipt, how long does the insurer have to approve or deny? within 15 days of the of the policy's cancellation date within 30 days of the applicant receiving the conditional receipt within 45 days of the date of application within 90 days of the policy being cancelled
45
Bart is injured and provides notice of a health claim to his insurer. He later receives the required claims forms. Within how many days of the loss must Bart file proof of loss with the insurance company? 20 45 90 120
90
Which of the following statements describes what an Accident and Health policyowner may NOT do? File a covered claim Assign ownership Cancel the coverage Adjust the premium payments
Adjust the premium payments
Which of the following statements is NOT correct? Changes in an insurance policy must be approved by an executive officer of the insurance company Changes in an insurance policy must be endorsed on the policy or attached in a rider Agents are allowed to waive certain policy provisions Agents are never allowed to waive policy provisions
Agents are allowed to waive certain policy provisions
Which of the following statements about a Guaranteed Renewable Health Insurance policy is CORRECT? Premiums normally decrease at time of renewal Premiums normally increase at time of renewal Policy can renewed at any time by the company Policy can be cancelled at any time by the company
Premiums normally increase at time of renewal
Amy owns a disability income policy with a noncancellable renewal provision. Which of the following is guaranteed in her policy? The premium rate only is guaranteed The coverage only is guaranteed The coverage and premium rate are guaranteed Neither the coverage nor the premium rate are guaranteed
The coverage and premium rate are guaranteed"
Which of the following statements about a noncancellable policy is FALSE? So long as the premiums are paid, the policy cannot be changed in anyway Noncancellable provisions are most commonly found in disability income policies The premium rate CAN be increased over time The premium rate CANNOT be increased over time
The premium rate CAN be increased over time
Anita is an office clerk at the time she purchases a Disability Income policy. She later changes her career to a king crab fisherman. If she ever becomes injured on the boat, the Change of Occupation provision states that the insurer can: pay the benefits in full adjust the benefits deny the claim return the premiums paid, but deny the claim
adjust the benefits
The waiver of premium provision normally excludes which of the following disabling acts? Injuries sustained while committing a felony Injuries sustained while serving in the military Self-inflicted injuries All of these
all of these
After the insurance company receives a written request, an insured may have health insurance benefits paid to: a hospital only a physician only themselves only anyone designated by the insured
anyone designated by the insured
According to Required Provision 4, when an insured applies for reinstatement of a health policy and receives a conditional receipt, how long does the insurer have to approve or deny? within 15 days of the of the policy's cancellation date within 30 days of the applicant receiving the conditional receipt within 45 days of the date of application within 90 days of the policy being cancelled
within 45 days of the date of application
