Nebraska Life Health and Annuities Xcel Solution Practice
Simulator
What is a key difference between term and whole life insurance?
The key difference between term and whole life insurance is that term insurance provides coverage for
a specific period, while whole life insurance offers life...
Nebraska Life Health and Annuities Xcel Solution Practice
Simulator
What is a key difference between term and whole life insurance?
The key difference between term and whole life insurance is that term insurance provides coverage for
a specific period, while whole life insurance offers lifelong coverage with a cash value component.
✔️✔️
What is a pre-existing condition in health insurance?
A pre-existing condition is a medical condition that existed before the effective date of a health
insurance policy, which may affect coverage or premiums depending on the insurer's policies. ✔️✔️
What does it mean to have a high-deductible health plan (HDHP)?
A high-deductible health plan (HDHP) requires policyholders to pay a higher deductible before insurance
coverage kicks in, usually resulting in lower monthly premiums. ✔️✔️
What is the purpose of a life insurance policy’s cash value?
The cash value of a life insurance policy serves as a savings component that grows over time, allowing
policyholders to borrow against it or withdraw funds while still keeping coverage. ✔️✔️
What does it mean when a health insurance plan is described as “managed care”?
A managed care plan emphasizes cost control and coordination of care, often requiring members to use
a network of providers and obtain referrals for specialist services. ✔️✔️
What are essential health benefits in health insurance?
, Essential health benefits are a set of 10 categories of services that must be covered by health insurance
plans under the Affordable Care Act, including emergency services and maternity care. ✔️✔️
What is a disability income rider in life insurance?
A disability income rider provides a monthly income benefit to the policyholder if they become disabled
and unable to work, ensuring financial support during recovery. ✔️✔️
How does the appeals process work for denied health insurance claims?
The appeals process for denied health insurance claims allows policyholders to challenge a denial by
submitting additional information or evidence to the insurer for reconsideration. ✔️✔️
What is the significance of the Affordable Care Act (ACA) in health insurance?
The Affordable Care Act (ACA) significantly reformed the health insurance landscape by expanding
access, prohibiting denial based on pre-existing conditions, and mandating coverage standards. ✔️✔️
What does “premium holiday” mean in life insurance?
A premium holiday is a period during which the policyholder can temporarily stop paying premiums
without losing coverage, often because of sufficient cash value in the policy. ✔️✔️
What is an insurance policy’s renewal notice?
An insurance policy's renewal notice is a document sent by the insurer before the policy expires,
informing the policyholder of upcoming renewal options, changes, and premium amounts. ✔️✔️
What does "coverage limit" mean in health insurance?
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