TEXAS STATE LIFE AND HEALT H INSURANCE EXAM SIMULATOR

TEXAS STATE LIFE AND HEALT H INSURANCE EXAM SIMULATOR

WITH 100 QUESTIONS AND CORRECT

DETAILED ANSWERS GUARANTEED PASS | RATED A+

• If an insurance company issues a Disability Income policy that it cannot cancel or for which it

cannot increase premiums, the type of renewability that best desribes this policy is called noncancellable conditionally renewable cancellable guaranteed renewable - Answer>>> noncancellable

• P is an employee who quits her job and wants to convert her group health coverage to an

individual policy. After the expiration of COBRA laws, which of the following statements is TRUE?

She DOES need to provide evidence of insurability She does NOT need to provide evidence of insurability She will have up to 6 months to convert to an individual policy She will be paying exactly the same premium for the individual plan as she did the group plan - Answer>>> She does NOT need to provide evidence of insurability

• A comprehensive major medical health insurance policy contains an Eligible Expenses

provision which identifies the types of health care services that are covered. All of the following health care services are typically covered EXCEPT for

hospital charges physician fees

experimental and investigative services nursing services - Answer>>> experimental and investigative services

• An insurer receives proof of loss for an acceptable medical expense claim under an Individual

Health Insurance Policy. Under the Time of Payment of Claims provision, the insurer MUST pay the benefits

immediately within a maximum of three months within a reasonable amount of time at least monthly - Answer>>> immediately

• The Notice of Claims provision requires a policyowner to

provide proof of loss to an insurer within a specified time notify an insurer of a claim within a specified time wait 60 days after filing a claim to initiate a lawsuit against an insurer notify their physician of a claim within a specified time - Answer>>> notify an insurer of a claim within a specified time

• If a retiree on Medicare required five hospital stays in one year, which policy would provide

the best insurance for excess hospital expenses?

Long-term care Indemnity Medicare Supplement Medicaid - Answer>>> Medicare Supplement

• S, while in the process of converting her group life insurance to an individual policy, dies.

What happens to the claim her beneficiary submits?

No benefits are payable under the Master contract Full benefits are payable under the Master contract Full benefits are payable under the converted policy Benefits less required premium are payable under the converted policy - Answer>>> Full benefits are payable under the Master contract

• All of the following are limited benefit plans EXCEPT

cancer policies life insurance policies dental policies critical illness policies - Answer>>> life insurance policies

• A physician opens up a new practice and qualifies for a $7,000/month Disability Income

policy. What rider would the physician add if he wants the ability to increase his policy benefit as his practice and income grow?

Extended Term rider Cost of Living Adjustment rider Guaranteed Insurability Option rider Waiver of Premium rider - Answer>>> Guaranteed Insurability Option rider

• An agent whose license has been revoked is required to

wait at least five years before applying for a new license submit all previously written policies to the Commissioner of Insurance's office for servicing of the accounts cancel all policies currently in effect and advise the insureds to place them elsewhere continue to service the existing accounts but not solicit new business - Answer>>> wait at least five years before applying for a new license

• The benefits under a Disability Buy-Out policy are

normally paid in installments taxable to the beneficiary payable to the company or another shareholder normally paid after a short elimination period - Answer>>> payable to the company or another shareholder

• The Health Insurance Portability and Accountability Act (HIPAA) gives privacy protection

for

insolvency health information financial information overinsurance - Answer>>> health information

• How are surrender charges deducted in a life policy with a rear-end loaded provision?

Deducted from the death benefit Deducted when the policy is discontinued