ACCIDENT AND HEALTH INSURANCE
COMPLETE QUESTIONS AND SOLUTIONS
TESTED ANSWERS
◉ guaranteed renewable Policies
Answer: keep it until age 65, adjusted price
◉ Conditionally Renewable Policies
Answer: company has the right to refuse renewal
◉ Optionally Renewable Policies
Answer: company's option to refuse (non-discriminatory)
◉ Term (nonrenewable) Policies
Answer: can not be renewed
◉ Cancellable Policies
Answer: company can cancel at any time with 5 days notice
◉ Military Suspension Provision
Answer: This provision is designed to protect active duty and
reserve members of the armed forces. Individual plans may
suspend coverage (and premium) during active military service.
, When no longer serving, these individuals will be permitted to
resume coverage and premiums without any waiting periods.
◉ Free Look Provision
Answer: refund after 10 days (seniors maybe 30)
◉ Exclusions
Answer: losses not covered by a policy
◉ pre-existing condition clause
Answer: a clause permitting permanent or temporary exclusion of
coverage for any physical or mental problems the insured had at
the time the policy was purchased.
◉ Exclusion rider
Answer: unique exclusion that applies to one person
◉ probationary period
Answer: period of no coveraged before it begins.
◉ Workers Compensation
Answer: plan providing treatment for workers injured on the job
◉ Medical Expense Policies
COMPLETE QUESTIONS AND SOLUTIONS
TESTED ANSWERS
◉ guaranteed renewable Policies
Answer: keep it until age 65, adjusted price
◉ Conditionally Renewable Policies
Answer: company has the right to refuse renewal
◉ Optionally Renewable Policies
Answer: company's option to refuse (non-discriminatory)
◉ Term (nonrenewable) Policies
Answer: can not be renewed
◉ Cancellable Policies
Answer: company can cancel at any time with 5 days notice
◉ Military Suspension Provision
Answer: This provision is designed to protect active duty and
reserve members of the armed forces. Individual plans may
suspend coverage (and premium) during active military service.
, When no longer serving, these individuals will be permitted to
resume coverage and premiums without any waiting periods.
◉ Free Look Provision
Answer: refund after 10 days (seniors maybe 30)
◉ Exclusions
Answer: losses not covered by a policy
◉ pre-existing condition clause
Answer: a clause permitting permanent or temporary exclusion of
coverage for any physical or mental problems the insured had at
the time the policy was purchased.
◉ Exclusion rider
Answer: unique exclusion that applies to one person
◉ probationary period
Answer: period of no coveraged before it begins.
◉ Workers Compensation
Answer: plan providing treatment for workers injured on the job
◉ Medical Expense Policies
