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In a Life insurance contract, an insurance company's promise to pay stated benefits is called the:
a) insuring clause
b) consideration clause
c) entire contract
d) owner's rights - Answer insuring clause
under which circumstance MUST a health insurer have an expedited grievance review procedure?- Answer when the enrollee's life or health is jeapordized
The Consideration clause in a life insurance contract contains what pertinent information? - Answer amount of premium payments and when they are due
Long Term Care policies will usually pay for eligible benefits using which of the following methods?
a) delayed
b) fee for service
c) expense incurred
d) respite - Answer Expense incurred
T is receiving $3,000/month from a Disability Income policy in which T's employer had paid the premiums. How are the $3,000 benefit payments taxable? - Answer Benefits are taxable to T
A statement made by an insured in an insurance application that must be true to the best of one's knowledge and which becomes a part of the contract is known as Answer a representation.
Which long term care insurance statement is true? - Answer Pre-existing conditions must be covered after the coverage has been in force for six months Pre-existing conditions are those for which medical advice or treatment was recommended by or received from a health provider within 6 months preceding the effective date of an individual long- term care policy.
which of the following is NOT allowed in regards to the Medigap (Medicare Supplement) policy? -
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