Flashcards in Accident Health Or Sickness Ins Basics Deck (38)
Under a credit disability policy, payments to the creditor will be made for the insurer until what point in time?
Until the period of disability ends or until the debt is repaid
Who is a field underwriter?
Most health policies will pay the accidental death benefits if the death is caused by an accident and occurs within how many days?
What is the term used for a written request for an insurer to issue an insurance contract based on the provided information?
What is adverse selection?
People who are more likely to submit insurance claims are seeking insurance more often than preferred risks
What is the capital sum in accidental death and dismemberment coverage?
A percentage of the principal sum
What is the entire contract in health insurance underwriting?
The application and the policy issued
In health insurance, what is considered a sickness?
An illness that first arises while the policy is in force
Who is responsible for paying the cost of a medical examination required in the process of underwriting?
Who must sign a health insurance application?
The policyowner, the insured (if different), and the agent
What are the two types of expenses covered by health ins?
Expenses related to health care, and expenses that compensate for loss of income
What type of hospital policy pays a fixed amount each day that the insured is in the hospital?
In health insurance, the policy itself and the insurance application form what?
The entire contract
During which stage in the insurance process do insurers evaluate information that identifies adverse selection risks?
What do limited health policies cover?
A specified accident or disease
When should an agent obtain a statement of good health from the insured?
When the premium was paid upon policy delivery and not at the time of application
If an agent makes a correction on the application for health insurance, who must the initial the correct answer?
Under an individual disability income policy, the benefits must be paid on at least what schedule?
What health policy provision defines the insureds duty to provide the insurer with reasonable notice in the event of loss?
Notice of claim
What will determine the length of the grace period in a health insurance policy?
The mode of the premium payment
What health policy renewability provision allows the insurer to terminate coverage for any reason, and to increase the premiums for any class of insureds?
What health policy provision prevents the insured from bringing a lawsuit against the insurance company for at least 60 days after proof of loss is provided?
What health policy provision states to whom the claim benefits must be paid?
Payment of claims
Who pays the expense for an autopsy under the physical examination and autopsy provision?
Who decides which optional provisions would be included in a health policy?
The insurance company
Health policy provision that allows the insured a period of time to examine the policy and determine whether or not to keep it?
What renewability provision will most likely appear on a travel accident policy?
Period of time
Monthly premium payment grace period length?
What will happen if there is no payment during the grace period?
The policy will be cancelled