Kentucky health insurance - Study guides, Class notes & Summaries

KENTUCKY HEALTH INSURANCE EXAM UPDATED 2024/2025 QUESTIONS AND WELL DETAILED ANSWERS|GRADED A+

Kentucky Health Insurance Exam Q&A 2024 All of the following statements about non-cancellable policies are true EXCEPT A. A noncancellible police is also called a noncancellible and guaranteed renewable policy B. The only right to cancel the noncancellable policy is for nonpayment of premiums C. The insurer may increase the premium rate after the policy is in effect provided it does so by classes of insureds D. the insurer may regain the right to cancel or not to renew when they insured re...

Kentucky Health Insurance Exam Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS What is Risk? - Answer -Risk is the uncertainty or chance of loss occurring What is a Peril? - Answer -Perils are the causes of loss insured against in an insurance policy What are the elements of risk? - Answer -Loss must be (1) due to chance; (2) definite and measurable; (3) statistical predictable; (4) not catastrophic; (5) with large loss exposure; and (6) insurance cannot be mandato...

Kentucky Health Insurance Exam Study Questions with 100% Correct Answers The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When does the policy become effective? A. as of the application date B. As of the policy delivery date C. As of the first of the month after the policy issue date D. As of the policy issue date - A. As of the application date All of the following are true about group disability income ins...

KENTUCKY HEALTH INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS C. The insurer may increase the premium rate after the policy is in effect provided it does so by classes of insureds - correct answer All of the following statements about non-cancellable policies are true EXCEPT A. A noncancellible police is also called a noncancellible and guaranteed renewable policy B. The only right to cancel the noncancellable policy is for nonpayment of premiums C. The insurer may increase the pr...

Kentucky Life Exam and Health Insurance Test Exam 2024 Q&A Risk - CORRECT ANSWER-The uncertainty or chance of a loss occurring Pure Risk - CORRECT ANSWER-Refers to situations that can only result in a loss or no change. There is no opportunity for financial gain. It is the only type of risk that insurance companies are willing to accept. Speculative Risk - CORRECT ANSWER-Involves the opportunity for either loss or gain (Gambling). This type of risk is not insurable. Perils - CORRECT...

The full premium was submitted with the application for life insurance, and the policy was issued two weeks later as requested. When does the policy become effective? A. as of the application date B. As of the policy delivery date C. As of the first of the month after the policy issue date D. As of the policy issue date - ANSWER A. As of the application date All of the following are true about group disability income insurance EXCEPT: A. The waiting period starts at the onset of the injury...

Kentucky Health Insurance exam study guide Questions and Answers (Latest Update 2024)

Kentucky Health Insurance License Exam | Questions and Correct Answers | Latest Update 2024/2025 | 100% PASS Sean has renewed his health insurance policy with Ability Insurance every year for the past 3 years. At this renewal, Sean received an extra payment from his insurer as a reward for renewing his policy and to encourage him to renew his policy again next year. What is this extra amount called? 1. An endorsement 2. An accumulation 3. A supplemental benefit 4. An additional bene...

KENTUCKY HEALTH INSURANCE LICENSE EXAM 2024 WITH 100% CORRECT ANSWERS Sean has renewed his health insurance policy with Ability Insurance every year for the past 3 years. At this renewal, Sean received an extra payment from his insurer as a reward for renewing his policy and to encourage him to renew his policy again next year. What is this extra amount called? 1. An endorsement 2. An accumulation 3. A supplemental benefit 4. An additional benefit - correct answer An accumulation When...