Exam (elaborations)
Health Insurance – Questions & Accurate Answers
- Course
- Institution
Health Insurance – Questions & Accurate Answers
[Show more]
Seller
Follow
LeCrae
Reviews received
Content preview
Health Insurance – Questions & Accurate AnswersWhich type of policy with paying employees salary if the employer was
injured in a bicycle accident and out of work for six weeks? Correct Ans
- Business Overhead Expense
On an accidental death and dismemberment insurance policy (AD&D) who
is qualified to change the beneficiary designation? Correct Ans -
Policyowner
Which of the following statements does not accurately describe the tax
treatment of premiums and benefits of individual accident and health
insurance? Correct Ans - Disability income policy premiums are tax
deductible
All of the following statements regarding group health insurance are true,
EXCEPT Correct Ans - an individual policy is given to each member
P is insured under a basic cancer plan which of the following conditions
would be covered under this plan? Correct Ans - Operation for a
malignant tumor
A policy owners rice are limited under which beneficiary designation
Correct Ans - Irrevocable
Which of the following would be a likely candidate for disability income
insurance on a key employee? Correct Ans - Company executive
Which of the following characteristics is associated with a large group
disability income policy? Correct Ans - No medical underwriting
A business overhead expense policy Correct Ans - Where is
business expenses such as rent and utilities
Many small business owners worry how their business will survive
financially if the owner becomes disabled. The policy which best addresses
this concern is Correct Ans - Business overhead expense
, Which type of policy pays benefits to a policyholder covered under a
hospital expense policy? Correct Ans - reimbursement
P loses an arm and a farm accident and has paid $10,000 from his
accidental death and dismemberment policy. This benefit is known as the
Correct Ans - Captital Sum
The federal income tax treatment of employer provided group medical
expense insurance can be accurately described as Correct Ans -
Employee premiums paid by the employer is tax deductible to the employer
as a business expendinture
T is covered by an accidental death and dismemberment policy that has an
irrevocable beneficiary. What action will the insurance company take if T
request a change of beneficiary? Correct Ans - Request of the
change will be refused
The benefits under a disability buy-out policy are Correct Ans -
Payable to the company or another shareholder
Accidental death coverage is provided to commercial airline passengers
and which of the following types of policies? Correct Ans - Blanket
Accident policy
The provision in a group health policy that allows the insurer to post phone
coverage for a covert illness 30 days after the policies a better day is
referred to as the Correct Ans - Waiting Period
The difference between group insurance and blanket health policies is
Correct Ans - Blanket health policies do not issue certificates
G is an accountant who has 10 employees and is concerned about how the
business with survive financially if he became disabled. The type of policy
which best address this concern is Correct Ans - Business Overhead
Expense
Consolidated Omnibus Budget Reconciliation Act (COBRA) Gives workers
and their families whose employment has been terminated the right to
Correct Ans - continue group health benefits
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LeCrae. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67163 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now