ILLINOIS HEALTH INSURANCE UPDATED EXAMS
SCRIPT QUESTIONS AND ANSWERS SURE A+
✔✔What does a entire contract consist of? - ✔✔The application, RIDERS, Provisons,
etc
✔✔What are the 2 other names that health insurance may be referred to as? -
✔✔Accidental and health
Health and sickness
✔✔What does health insurance cover? - ✔✔Sickness and injury
✔✔Who must sign the application? - ✔✔producer, applicant and insured
✔✔Do beneficiaries have to sign the application? - ✔✔No
✔✔What is the main source of information in an application? - ✔✔Underwriting
✔✔What has to be done if any changes are made to the application? - ✔✔The insured
must sign off on any changes
, ✔✔What happens if an application is submitted and accepted with missing information?
- ✔✔The information is considered irrelevant to the contract/policy
✔✔What does a incomplete application mean for the insured? - ✔✔They waive the right
to challenges
✔✔What happens if a policy is paid for at the time of application? - ✔✔A conditional
receipt is issued and the plan will go into effect once payment is accepted and the policy
is issued OR after a medical exam. Whichever is later
✔✔What does it mean if there is no conditional receipt issued? - ✔✔It's a trial
application
✔✔What is the fair credit reporting act considered - ✔✔A 3rd party
✔✔Which group of people are allowed to be discriminated against during the
underwriting of insurance? - ✔✔People with H I V
✔✔what is underwriting? - ✔✔Classification, selection and rating
✔✔What does underwriting determine? - ✔✔Insurability
✔✔What are the 3 big factors to determine insurability? - ✔✔Age
Tobacco use
Gender
✔✔Is underwriting considered materiel or immaterial? - ✔✔Material
✔✔What are the sources of insurability? - ✔✔The application and medical exam
✔✔What does the application consist of? - ✔✔General information
✔✔What is medical exam used for and who pays for it? - ✔✔It can be used to decline
insurance And it's paid for by the insurer
✔✔Who must give the physician statement? - ✔✔The attending physician
✔✔What is M I B - ✔✔Medical information board
A non profit company
✔✔What does MIB do? - ✔✔Uses medical records to collect information for
underwriting
SCRIPT QUESTIONS AND ANSWERS SURE A+
✔✔What does a entire contract consist of? - ✔✔The application, RIDERS, Provisons,
etc
✔✔What are the 2 other names that health insurance may be referred to as? -
✔✔Accidental and health
Health and sickness
✔✔What does health insurance cover? - ✔✔Sickness and injury
✔✔Who must sign the application? - ✔✔producer, applicant and insured
✔✔Do beneficiaries have to sign the application? - ✔✔No
✔✔What is the main source of information in an application? - ✔✔Underwriting
✔✔What has to be done if any changes are made to the application? - ✔✔The insured
must sign off on any changes
, ✔✔What happens if an application is submitted and accepted with missing information?
- ✔✔The information is considered irrelevant to the contract/policy
✔✔What does a incomplete application mean for the insured? - ✔✔They waive the right
to challenges
✔✔What happens if a policy is paid for at the time of application? - ✔✔A conditional
receipt is issued and the plan will go into effect once payment is accepted and the policy
is issued OR after a medical exam. Whichever is later
✔✔What does it mean if there is no conditional receipt issued? - ✔✔It's a trial
application
✔✔What is the fair credit reporting act considered - ✔✔A 3rd party
✔✔Which group of people are allowed to be discriminated against during the
underwriting of insurance? - ✔✔People with H I V
✔✔what is underwriting? - ✔✔Classification, selection and rating
✔✔What does underwriting determine? - ✔✔Insurability
✔✔What are the 3 big factors to determine insurability? - ✔✔Age
Tobacco use
Gender
✔✔Is underwriting considered materiel or immaterial? - ✔✔Material
✔✔What are the sources of insurability? - ✔✔The application and medical exam
✔✔What does the application consist of? - ✔✔General information
✔✔What is medical exam used for and who pays for it? - ✔✔It can be used to decline
insurance And it's paid for by the insurer
✔✔Who must give the physician statement? - ✔✔The attending physician
✔✔What is M I B - ✔✔Medical information board
A non profit company
✔✔What does MIB do? - ✔✔Uses medical records to collect information for
underwriting
