PSI - NY Life, Accident and Health2023 Practice Exam 17-55 Accurate 100%(SCORED A)
Which policy provision permits the policy owner to take a specified number of days to examine the contract, and allows for cancellation and a full refund if the policy owner rejects the terms or costs? - ANSWERSFree Look When will a policy pay on a UCR basis? - ANSWERSWhen particular benefits are not listed on a payment schedule Which type of rider reimburses health and social service expenses incurred in a convalescent or nursing home facility? - ANSWERSlong term care rider Which of the following is exempted from the incontestability provision in insurance policies? - ANSWERSFraudulent misstatements What does first dollar coverage mean? - ANSWERSAs soon as covered medical expenses are incurred, the policy begins to pay What is the waiver of premium provision? - ANSWERSIn a long term care contract, the premium is waived after the insured has been confined for a specific period of time According to the Time Payment of Claims provision, the insurer must make the payment immediately after receiving proof of loss EXCEPT - ANSWERSfor claims involving periodic payments W
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