XCEL Ch. 7 Keywords Exam Questions and
Answers with Verified Solutions | Latest
Updated 2026
Basic Medical Insurance a health insurance policy that provides
"first dollar"
benefits for specified (and limited) health
care,
such as hospitalization, surgery, or
physician
services. Characterized by limited benefit
periods
and relatively low coverage limits.
Major Medical Expense Policy Health insurance policy that provides
broad
coverage and high benefits for
hospitalization,
surgery, and physician services.
Characterized by
deductibles and coinsurance cost- sharing.
Deductible an amount or expense or loss to paid by
the
insured before a health insurance policy
starts
paying benefits
, Flat Deductible A stated dollar amount that applies to a
covered
loss (e.g. $500). This deductible is applied
per
occurrence, per insured individual
Corridor Deductible comes in to play when a major medical
policy is
supplementing basic coverage that
contains no
deductible), the corridor deductible is not
applied
until the basic coverage has been
exhausted.
Integrated Deductible Used when a major medical plan is
supplementing
basic coverages.
Per-Cause Deductible insured must satisfy a deductible for each
accident
or illness
All-Cause Deductible the insured only has to meet the deductible
amount once during the benefit period
Answers with Verified Solutions | Latest
Updated 2026
Basic Medical Insurance a health insurance policy that provides
"first dollar"
benefits for specified (and limited) health
care,
such as hospitalization, surgery, or
physician
services. Characterized by limited benefit
periods
and relatively low coverage limits.
Major Medical Expense Policy Health insurance policy that provides
broad
coverage and high benefits for
hospitalization,
surgery, and physician services.
Characterized by
deductibles and coinsurance cost- sharing.
Deductible an amount or expense or loss to paid by
the
insured before a health insurance policy
starts
paying benefits
, Flat Deductible A stated dollar amount that applies to a
covered
loss (e.g. $500). This deductible is applied
per
occurrence, per insured individual
Corridor Deductible comes in to play when a major medical
policy is
supplementing basic coverage that
contains no
deductible), the corridor deductible is not
applied
until the basic coverage has been
exhausted.
Integrated Deductible Used when a major medical plan is
supplementing
basic coverages.
Per-Cause Deductible insured must satisfy a deductible for each
accident
or illness
All-Cause Deductible the insured only has to meet the deductible
amount once during the benefit period
