Exam (elaborations)
TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM PREP/151 Q’s and A’s
- Course
- Institution
TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM PREP/151 Q’s and A’s
[Show more]
Seller
Follow
Victorious23
Reviews received
Content preview
TX GENERAL LINES LIFE, ACCIDENT ANDHEALTH EXAM PREP/151 Q’s and A’s
1. review - health ins refers to the broad field of insurance plans that provide
protection against the financial consequences of - -illness
accident
injury
disability
-2. review - three basic categories of health coverage - -1. Medical expense
insurance
2. disability income insurance
3. accidental death and dismemberment insurance AD&D
-3. review - Medical expense insurance is - -standard health care insurance.
-4. review - medical expense insurance includes plans that cover - -hospital
care
surgical expenses
doctor visits
outpatient care
most of your other basic medical expenses
-5. review - disability income insurance provides - -replacement income
when wages are lost due to a disability
-6. review - disability income insurance does not cover - -medical expenses
associated with a disability but provides a guaranteed flow of income while
the person is disabled
-7. review - accidental death and dismemberment insurance aka AD&D
provides a beneficiary with - -a lump-sum death benefit in the event of
accidental death of the insured
-8. review - accidental death and dismemberment insurance aka AD&D will
also - -pay a living benefit for dismemberment
-9. review - health insurance - -is designed to provide coverage for
accidents and sickness
-10. review - premium factors - -1. funded by regular premium payments
-11. review - premium factors - -2. can be paid:
- annually
, - semi-annually
- quarterly
- monthly
-12. review - premium factors - the factors that enter into premium
calculations are: - -- interest
- expenses
- types of benefits
- morbidly
- age
- sex
- occupation
-13. business needs - in addition to protecting individuals against the
possible loss of income due to a disability, - -disability income policies are
also used to protect businesses
-14. review - there are three type of disability income policies used for
business - -1. disability buy-sell
2. business overhead expense insurance
3. disability buy-out
-15. review - disability buy-sell - -disability buy-sell agreement is a legal
agreement that specifies how a business will pass between owners when one
of the owners dies or becomes disabled
-16. review - business overhead expense insurance - -business over head
expense insurance is sold to small business owners who must continue to
meet overhead expenses such as rent utilities and payroll
-17. business overhead expense insurance - -business overhead expense
policy reimburses business owners for the actual overhead expenses
incurred while the business owner is totally disabled
-18. business overhead expense insurance does not - -reimburse the
business owner for their salary
-19. disability buy-out - just as with the life insurance buy sell agreement - -
the disability buyout agreement specifies who will purchase a disabled
partner's interest and legally obligates that person or party to purchase the
business interest of the disabled partner
-20. eligible groups - -to qualify for a group health insurance applicants
must be a part of a group formed for a reason other than just obtaining
health insurance
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 Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
70840 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now