Other Flashcards
(27 cards)
Which of the following is true regarding a term health policy?
It is non-renewable
Which of the following is not true of a basic medical expense plans?
Coverage for catastrophic medical
Expenses
The relations of earnings to insurance provisions allow the insurance company to limit the insurance benefit to his or her average income over what period of time ?
2 years
Which state has a jurisdiction over a group policy that covers individuals that reside in more than one state
?
 The state in which the policy was delivered.
What is an a most important feature of a dental expense insurance plan that is not typically found in medical expense insurance plan?
Diagnostic and preventive care
What is franchise insurance?
It is health coverage for small groups, whose numbers are too small to qualify for true group insurance
Which of the following is true regarding Medicare supplement policies?
They must be guaranteed renewable
What term is used to describe when a medical caregiver provides services to only members or subscribers of a health organization, and contractually is not allowed to treat other patients? 
Close panel
If a policy is rated up, which of the following is true?
The premium increases
What is a penalty tax for nonqualified distributions from a health savings account?
20%
An insured purchased an insurance policy 5 years ago . Last year she received a dividend check from the insurance company that was not taxable . This year , she did not receive a check from insurer . From what type of insurer did the insured purchase the policy ?
Mutual .
Insurance policy together with a policy application, and any riders form what is known as
entire contract 
An insured wants to name her husband as a beneficiary of her policy. She also wishes to retain all the  rights of the ownership. The Insured should have her husband named as what type of beneficiary? 
Revocable
Which of the following is a required provision for Medicare supplement policies?
They may not duplicate Medicare benefits
The insurance policy together with the policy application, and any added riders from what is known as
Entire contract
An insured is covered by partially contributory group disability income plan that pays benefits of $4000 a month. if the insured pays 25% of the monthly premium, how much of the monthly benefit would be taxable?
$3,000
When does Medicare cover home Nursing care?
Only if it is part of treatment for a covered illness or injury.
How do you employer contributions to a health savings account affect the insureds call taxes?
The employers contributions are not included in the individual insureds taxable income.
To attain currently insured status under Social Security, a worker must have earned at least how many credits during the last 13 quarters?
6 credits
How many days in advance of a long-term care policy lapsing due to non-payment of premium must an insurer provide notice to the insured or designee?
30 days
 Which of the following refers to “own occupation “ disability?
Insured is unable to perform duties of the occupation for which they were educated or trained
In respect to the consideration clause, which of the following is consideration on the part of the insurer?
Promising to pay in accordance with the contract terms 
Because the agent is using stationary with the logo of an insurance company, applicant for insurance, assume that the agent is authorized to transact on behalf of the insurer. What type of agent authority does this describe?
 Apparent who
Under the fair credit reporting act, individuals rejected for insurance due to information contained in a consumer report?
Must be informed of the source of the report. 
