NJ Accident and Health Producer PRACTICE
EXAMS
Leave the first rating
Save
Terms in this set (47) Hide definitions
According to the Time Payment of for claims involving periodic payments
Claims provision, the insurer must
make the payment immediately after INSURERS MUST PAY LUMP SUM CLAIMS
receiving proof of loss EXCEPT: IMMEDIATELY AFTER RECEIVING PROOF OF LOSS
- if the insured is able to eventually
return to work
-if the death is suicide or due to a
pre existing condition
-when the policy is in the
incontestability period
-for claims involving periodic
payments
What does coinsurance mean? The insurer and the insured share expenses over
- a policy covers the insured and the the deductible
any additional named persons
-the insurer and the insured share COINSURANCE IS THE SHARING BETWEEN THE
expenses over the deductible INSURER AND THE INSURED OF COVERED
-the insurer and the insured share EXPENSES THAT EXCEED THE DEDUCTIBLE
ALL expenses AMOUNT. THE SHARING ENDS WHEN THE "STOP
-the policy owner holds multiple LOSS LIMIT" IS REACHED
policies through the same insurer
,The life insurance policy will not be -the producer has explained the policy to the
truly effect until all of the following client
occur EXCEPT:
-the statement of good health is EFFECTIVE DATE BASED ON :
obtained by the insurer -APP DATE
-the first premium is collected -IF PREMIUM HAS BEEN PAID
-the policy is delivered to the -IF A STATEMENT OF GOOD HEALTH MUST BE
applicant OBTAINED IF PREMIUM WAS NOT SUBMITTED
-the producer has explained the WITH APPLICATION
policy to the client
Which of the following coverage -disability income insurance
types pays a monthly cash benefit
following the elimination period for PROVIDES PAYMENT OF REGULAR PERIODIC
total disability due to accident or INCOME SHOULD THE INSURED BECOME
sickness? DISABLED FROM ILLNESS OR INJURY
-credit disability
-works comp disability
-recurrent disability
-disability income
, The period beginning at the time of -elimination period
an insured loss that an insured must
wait before benefits are payable is THE TIME PERIOD STARTING AT THE TIME OF
called the: LOSS, SUCH AS A DISABILITY, THAT AN INSURED
-probationary period MUST WAIT BEFORE BENEFITS ARE PAYABLE
-benefit period
-elimination period
-grace period
Managed care plans increase -transferring the management of costs to the
efficiency by all of the following insureds
EXCEPT:
-transferring the management of MANAGED CARE PLANS ARE DESIGNED TO USE
costs to the insureds COST SAVING SERVICES BY USING CLOSED
-controlling inpatient admissions and NETWORKS AND MANAGING HEALTH CARE
length of stay WITH THESE NETWORKS
-increasing beneficiary cost sharing
-selectively contracting with health
care providers
Under an individual policy, and -totally disabled
insured who CANNOT perform the
duties of his/her own occupation for TOTAL DISABILITY IS DEFINED AS THE INABILITY
a specific period of time is: OF INSURED TO PERFORM ALL THE DUTIES OF
-totally disabled HIS REGULAR OCCUPATION FOR THE FIRST 24
-permanently disabled MONTHS AFTER A LOSS
-residually disabled
-occupationally disabled
EXAMS
Leave the first rating
Save
Terms in this set (47) Hide definitions
According to the Time Payment of for claims involving periodic payments
Claims provision, the insurer must
make the payment immediately after INSURERS MUST PAY LUMP SUM CLAIMS
receiving proof of loss EXCEPT: IMMEDIATELY AFTER RECEIVING PROOF OF LOSS
- if the insured is able to eventually
return to work
-if the death is suicide or due to a
pre existing condition
-when the policy is in the
incontestability period
-for claims involving periodic
payments
What does coinsurance mean? The insurer and the insured share expenses over
- a policy covers the insured and the the deductible
any additional named persons
-the insurer and the insured share COINSURANCE IS THE SHARING BETWEEN THE
expenses over the deductible INSURER AND THE INSURED OF COVERED
-the insurer and the insured share EXPENSES THAT EXCEED THE DEDUCTIBLE
ALL expenses AMOUNT. THE SHARING ENDS WHEN THE "STOP
-the policy owner holds multiple LOSS LIMIT" IS REACHED
policies through the same insurer
,The life insurance policy will not be -the producer has explained the policy to the
truly effect until all of the following client
occur EXCEPT:
-the statement of good health is EFFECTIVE DATE BASED ON :
obtained by the insurer -APP DATE
-the first premium is collected -IF PREMIUM HAS BEEN PAID
-the policy is delivered to the -IF A STATEMENT OF GOOD HEALTH MUST BE
applicant OBTAINED IF PREMIUM WAS NOT SUBMITTED
-the producer has explained the WITH APPLICATION
policy to the client
Which of the following coverage -disability income insurance
types pays a monthly cash benefit
following the elimination period for PROVIDES PAYMENT OF REGULAR PERIODIC
total disability due to accident or INCOME SHOULD THE INSURED BECOME
sickness? DISABLED FROM ILLNESS OR INJURY
-credit disability
-works comp disability
-recurrent disability
-disability income
, The period beginning at the time of -elimination period
an insured loss that an insured must
wait before benefits are payable is THE TIME PERIOD STARTING AT THE TIME OF
called the: LOSS, SUCH AS A DISABILITY, THAT AN INSURED
-probationary period MUST WAIT BEFORE BENEFITS ARE PAYABLE
-benefit period
-elimination period
-grace period
Managed care plans increase -transferring the management of costs to the
efficiency by all of the following insureds
EXCEPT:
-transferring the management of MANAGED CARE PLANS ARE DESIGNED TO USE
costs to the insureds COST SAVING SERVICES BY USING CLOSED
-controlling inpatient admissions and NETWORKS AND MANAGING HEALTH CARE
length of stay WITH THESE NETWORKS
-increasing beneficiary cost sharing
-selectively contracting with health
care providers
Under an individual policy, and -totally disabled
insured who CANNOT perform the
duties of his/her own occupation for TOTAL DISABILITY IS DEFINED AS THE INABILITY
a specific period of time is: OF INSURED TO PERFORM ALL THE DUTIES OF
-totally disabled HIS REGULAR OCCUPATION FOR THE FIRST 24
-permanently disabled MONTHS AFTER A LOSS
-residually disabled
-occupationally disabled
