Health insurance

Which of following is correct regarding the taxation of group medical expense premiums and benefits?

Premiums are tax deductible and benefits are not taxed

If only one party to an insurance contract has made a legally enforceable promise, what kind of contract is it?

Unilateral

Which disability income policies would have the highest premiums?

15-days waiting period/ 10-year benefit period

What is the continuing education requirement in Ethics for agents in this state

3 hours every 2 years

An insurer neglects to pay a legitimate claim that is covered under the terms of the policy. Which of the following insurance principles has the insurer violated?

Consideration

The gatekeeper of an HMO helps

Control specialist costs

Which of the following is an eligibility requirements for social security disability income benefit

Fully insured status

The medical information bureau was created to protect

Insurance companies from adverse selection by high risk person

Regarding the taxation of Business Overhead policies

Premiums are deductible and benefits are taxed

Which of the following is not the consideration policy?

The application given to a prospective insured

Which will vary the length of the grace period in health insurance policies

The mode of the premium payment

Under what conditions are group disability income benefits received by an employee not taxable as income

When the benefits received are equal or less than the employee's percentage of the contribution

What must an insurer obtain in order to transact insurance within a given state

Certificate of authority

The provision in a health insurance policy that ensures that the insurer cannot refer to any document that is not contained in the contract is the

Entire contract clause

A brain surgeon has an accident and develops tremors in her right arm. Which disability income policy definition of total disability will cover her for all losses?

Own occupation- Less restrictive than other definitions

A guaranteed renewable health insurance policy allows the

Policyholder to renew the policy to a stated age, with the company having the right to increase premiums on the entire class

Disability income policies can provide coverage for a loss of income when returning to work only part-time after recovering from total disability. What is the benefit that is based on the insured's loss of earnings after recovery from a disability

Residual disability

When employees are actively at work on the date coverage can be transferred to another insurance carrier, what happens to the coinsurance and deductibles?

They carry over from the old plan to the new plan

Which of the following are the main factors taken into account when calculating residual disability benefits?

Present earnings and earnings prior to disability

Which of the following describes taxation of individual disability income insurance premiums and benefits?

Premiums are not tax deductible, and benefits are not taxable

An insured purchased a noncancellable health insurance policy 1 year ago. Which of the following circumstances would not be a reason for the insurance company to cancel the policy

The insured is in an accident and incurs a large claim