Exam (elaborations)
MISSISSIPPI LIFE AND HEALTH INSURANCE QUESTIONS AND ANSWERS
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MISSISSIPPI LIFE AND HEALTH INSURANCE QUESTIONS AND ANSWERS
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1-276 of 276Payable for charges incurred while the insured is confined to, or treated in, a hospital,
as defined in a health insurance policy.
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Hospital benefits
,Person(s) named to receive proceeds in case the original beneficiary is not alive. Also
referred to as secondary
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Contingent beneficiary
Effect of personal reputation, character, associates, personal living habits, financial
responsibility,
and environment, as distinguished from physical health, upon an individual's general
insurability.
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Moral hazard
A variation of the PPO concept, an EPO contracts with an extremely
limited number of physicians and typically only one hospital to provide services to
members; members who elect to
get health care from outside the EPO receive no benefits. (See also preferred
provider organization)
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Exclusive provider organization (EPO)
,A method of marketing, selling, and distributing insurance, it is represented by
agencies or branch offices committed to the ongoing recruitment and development
of career agents.
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Career agency system
A form of renewable term insurance that provides coverage for one year and
allows the policy owner to renew coverage each year without evidence of insurability.
Also called yearly renewable
term (YRT)
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Annually renewable term (ART
Health insurance benefits subject to a specified daily maximum for a specified
period of time while the injured is confined to a hospital, plus a limited allowance up
to a specified amount for miscellaneous hospital expenses, such as operating room,
anesthesia, laboratory fees, and so on. Also called hospitalization insurance.(See
medical expense insurance)
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Hospital expense insurance
, In superimposed maor medical plans, a deductible amount between the benefits paid
by
the basic plan and the beginning of the major medical benefits.
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Corridor deductible
Signed transfer of benefits of a policy by an insured to another party. The company
does not
guarantee the validity of an assignment.
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Assignment
Insurance that provides coverage for a group of persons, usually employees of a
company,
under one master contract.
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Group insurance
Protection of a business against financial loss caused by the death or disablement of a
vital number of the company, usually individuals possessing special managerial or
technical skill or expertise
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