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2024 Update|NJ Accident and Health Insurance| newest|COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS |FREQUENTLY MOST TESTED| (100% accurate solutions)|ALREADY GRADED A+$22.99
2024 Update|NJ Accident and Health Insurance| newest|COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS |FREQUENTLY MOST TESTED| (100% accurate solutions)|ALREADY GRADED A+
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NJ Accident and Health Insurance
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NJ Accident And Health Insurance
2024 Update|NJ Accident and Health Insurance| newest|COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS |FREQUENTLY MOST TESTED| (100% accurate solutions)|ALREADY GRADED A+
11/6/24, 1:25 PM 2024 Update|NJ Accident and Health Insurance|2024-2025 newest|COMPREHENSIVE QUESTIONS AND VERIFIED ANSWE…
2024 Update|NJ Accident and Health
Insurance|2024-2025 newest|COMPREHENSIVE
QUESTIONS AND VERIFIED ANSWERS
|FREQUENTLY MOST TESTED| (100% accurate
solutions)|ALREADY GRADED A+
Terms in this set (62)
In order for insurance 1. agreement
contracts to be legally 2. Consideration
binding, they must have 4 3. Competent parties
essential elements: 4. legal purpose
The binding force in a contract that requires
something of value to be exchanged for the transfer
of risk. The consideration on the part of the insured
consideration is the representations made in the application and
the payment of premium; the consideration on the
part of the insurer is the promise to pay in the event
of loss.
Certain conditions must be met by all parties to the
conditional contract contract when a loss occurs in order for the contract
to be legally enforceable.
only one of the parties to the contract is legally
unilateral contract bound to do anything; the insurer is legally bound
to pay losses covered by a policy force
prepared by the insurer and accepted or rejected
contract of adhesion
by the other party
An absolutely true statement upon which the
warranty
validity of the insurance policy depends.
, 11/6/24, 1:25 PM 2024 Update|NJ Accident and Health Insurance|2024-2025 newest|COMPREHENSIVE QUESTIONS AND VERIFIED ANSWE…
statements believed to be true to the best of one's
representations
knowledge
Material A statement that, if discovered, would alter the
Misrepresentation underwriting decision of the insurance company.
established procedures that consumer-reporting
agencies must follow in order to ensure that records
Fair Credit Reporting Act
are confidential, accurate, relevant, and properly
used
owned by member insurance companies. It is a
nonprofit trade organization that receives adverse
Medical Information
medical information from insurance companies and
Bureau
maintains confidential medical impairment info on
individuals
1. the agent
necessary signatures 2. the applicant
3. the proposed insured
Blue Cross and Blue not insurance companies
Shield
An employer-funded account linked to a high
Medical Savings Account
deductible medical insurance plan.
employees deposit a certain amount of their
paycheck into an account before paying income
Flexible Spending
taxes. Then during the year, the employee can be
Account
directly reimbursed from the account for eligible
health care and dependent care expenses.
who limits the annual IRS
contribution for
Dependent Care
Accounts to a specified
amount that gets
adjusted annually for cost
of living?
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