Mississippi Health and Life Insurance Exam<\/p>\n\n\n\n
Accident CORRECT ANSWERS An unplanned, unforeseen event which occurs
suddenly and at an unspecified place.
Accident Insurance CORRECT ANSWERS A type of insurance that protects the insured
against loss due to accidental bodily injury
Accidental Death and Dismemberment CORRECT ANSWERS An insurance policy
which pays a specified amount or a specified multiple of the insured’s benefit if the
insured dies, loses sight, or loses two limbs due to an accident
Accidental Death Benefits CORRECT ANSWERS A policy rider that states that the
cause of death will be analyzed to determine if it complies with the policy description of
accidental death
Actual Charge CORRECT ANSWERS The amount a physician or supplier actually bills
for a particular service or supply
Adhesion CORRECT ANSWERS A contract offereed on a take it or leave it basis by an
insurer, in which the insured’s only option is to accept or reject the contract. Any
ambiguities in the contract will be settled in favor of the insured
Admitted (Authorized) Insurer CORRECT ANSWERS An insurance company
authorized and licensed to transact insurance in a paricular state
Adult Day Care CORRECT ANSWERS A program for impaired adults that attempts to
meet their health, social, and functional needs ins a setting away from their homes
Adverse Selection CORRECT ANSWERS The tendency of risks with higher probability
of loss to purchase and maintain insurance more often than the risks who present lower
probability
Aleatory CORRECT ANSWERS A contract in which participating parties exhange
unequal amounts. Insurance contracts are aleatory in that the amount the insured will
pay in premiums is unequal to the amount the insurer will pay in the event of a loss
Alien Insurer CORRECT ANSWERS An insurance company that is incorporated outside
the United States.<\/p>\n\n\n\n
Mississippi Health and Life Insurance Exam<\/p>\n\n\n\n
Apparent Authority CORRECT ANSWERS The appearance or the assumption of
authority based on the actions, words, or deeds of the principal or because of
circumstances the principal created.
Approved Amount CORRECT ANSWERS The amount Medicare determines to be
reasonable for a service that is covered under part B of Medicare.
Assignment CORRECT ANSWERS A claim to a provider or medical supplier to receive
payments directly from Medicare
Attained Age CORRECT ANSWERS The age of the insured at a determined date.
Attending Physician’s Statement (APS) CORRECT ANSWERS A statement usually
obtained from the applicant’s doctor.
Avoidance CORRECT ANSWERS A method of dealing with risk by deliberately keeping
away from it (e.g. if a person wanted to avoid the risk of being killed in an airplane
crash, he\/she might choose never to fly in a plane).
Basic Hospital Expense Insurance CORRECT ANSWERS Coverage that provides
benefits for room, board and miscellaneous hospital expenses for a certain number of
days during a hospital stay.
Basic Medical Expense Insurance CORRECT ANSWERS Coverage for doctor visits, x\u0002rays, lab tests, and emergency room visits; benefits, however, are limited to specified
dollar amounts.
beneficiary CORRECT ANSWERS The person who receives the proceeds from the
policy when the insured dies
Benefit Period CORRECT ANSWERS Length of time during which benefits are paid
Birthday rule CORRECT ANSWERS The method of determining primary coverage for a
dependent child, under which the plan of the parent whose birthday occurs first in the
calendar year is designated as primary.
Blanket Medical Insurance CORRECT ANSWERS A policy that provides benefits for all
medical costs, including doctor visits, hospitalization, and drugs.
Boycott CORRECT ANSWERS An unfair trade practice in which on person refuses to
do business with another until he or she agrees to certain conditions
Buyer’s Guide CORRECT ANSWERS A booklet that describes insurance policies and
concepts, and provides general information to help an applicant make an informed
decision.<\/p>\n\n\n\n