How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? - Answer- 2 years
What is the return of premium rider? - Answer- an increasing amount of term insurance that always equals the total of premiums paid up to the current point
In a ...
how long after being entitled to disability benefits will an individual be eligible to receive medicare benefits
what is the return of premium rider
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PSI life, accident, and health
PSI life, accident, and health
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SUMMER2022
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Voorbeeld van de inhoud
PSI life, accident, and health
How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? - Answer- 2 years
What is the return of premium rider? - Answer- an increasing amount of term insurance that always equals the total of premiums paid up to the current point
In a home healthcare benefit, all of the following are eligible expenses EXCEPT - Answer- blood transfusions
All of the following are classifications of risk EXCEPT - Answer- non-nicotine
Which of the following is exempted from the incontestability provision in insurance policies? - Answer- fraudulent misstatements
Which of the following is characteristic of a non-qualified plan? - Answer- plan does not meet federal guidelines for tax benefits
What does it mean if a health policy is conditionally renewable? - Answer- Insurer may elect NOT to renew only under conditions specified in the policy.
During which period of a Disability Income Policy is coverage effective but during which no benefits will be paid under the policy? - Answer- probationary period
What specific new procedures does the USA Patriot Act require of insurance companies? - Answer- Establish an anti-money laundering program
A consumer report used to determine eligibility for insurance may include all of the following EXCEPT - Answer- medical underwriting exam.
All of the following are TRUE regarding incomplete applications EXCEPT - Answer- the incomplete application can be accepted with the missing information added later.
Compared to basic hospital, medical and surgical policies, which type of insurance provides broader coverage, fewer gaps, higher individual benefits, and higher policy maximums? - Answer- major medical insurance
Which type of rider reimburses health and social service expenses incurred in a convalescent or nursing home facility? - Answer- long term care rider
All of the following are characteristics of COBRA EXCEPT - Answer- change in medical privacy procedures. For an individual long-term care policy there is an annual dollar limit for tax deductions that is based on which of the following? - Answer- Age
Managed care plans increase efficiency by all of the following means EXCEPT - Answer- transferring the management of costs to the insureds.
Which of the following is an example of a premium payment mode? - Answer- annual premium payment
What is the waiver of premium provision? - Answer- In a long term care contract, the premium is waived after the insured has been confined for a specific period of time.
Which of the following amends the Social Security Act to make Medicare secondary to group health plans? - Answer- TEFRA
When will a policy pay on a UCR (Usual, Customary, Reasonable) basis? - Answer- When particular benefits are not listed on a payment schedule
Which one of the following represents an advantage of obtaining a policy loan versus a withdrawal? - Answer- the loan is not taxed while a withdrawal is taxed for amounts above the contract cost basis
The group conversion option is allowed for all of the following EXCEPT - Answer- during
the annual benefits enrollment period.
Which is the primary purpose of Health Reimbursement Accounts (HRAs)? - Answer- To assist covered employees with the payment of medical expenses on a high deductible plan funded through pre-tax contributions.
All of the following are common exclusions from loss found in disability income policies EXCEPT for that incurred while - Answer- committing a misdemeanor
Current assumption whole life policies are sensitive to which of the following? - Answer- interest rates
All of the following are requirements to qualify for Social Security disability benefits EXCEPT when - Answer- unable to work in occupation in which the worker was trained or educated.
In a case where an individual's health is insured by both their own policy and their spouse's policy, which policy pays in the event of an illness? - Answer- The individual's policy pays first, the spouse's policy pays the remaining up to coverage amount.
Which of the following is TRUE for a flexible premium annuity? - Answer- The purchaser
has the option to vary the amount of each premium payment falling between a minimum
and maximum amount.
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