Nevada Accident, Life and Health Exam Questions and Answers 100% Accurate(GRADED A+)

COBRA (because she can convert, and if she has a long term illness it it will be hard for her to get approved for individual insurance) - ANSWER-Kevin and Nancy are married; Kevin is the primary breadwinner and has a health insurance policy that covers both him and his wife. Nancy has an illness that requires significant medical attention. Kevin and Nancy decide to legally separate, which means that Nancy will no longer be eligible for health insurance coverage under Kevin. Which of the following options would be best for Nancy at this point? a)COBRA b)Apply for social security benefits c)Apply for coverage under the same group policy that covers Kevin d)Convert to an individual insurance policy with 31 days so she won't have to provide evidence of insurability Ownership - ANSWER-What is the major difference between a stock company and a mutual company? Increasing Term - ANSWER-What type of insurance would be used for a Return of Premium rider? a)Decreasing Term b)Annually Renewable Term c)Increasing Term d)Level Term Elimination Period - ANSWER-In disability income insurance, the time between the onset of an injury or sickness and when benefits begin qualifying events include the voluntary termination of employment; an employee's change from full time to part time; or the death of the employee, divorce - ANSWER-Qualifying Events for COBRA 36 months - ANSWER-What is the period of coverage for events such as death or divorce under COBRA? First-Dollar Insurance Coverage - ANSWER-Insurance where the insured is not required to pay a deductible Adverse Selection - ANSWER-insuring of risks more prone to loss than average risk Agent/Producer - ANSWER-a legal representative of an insurance company Applicant/Proposed insured - ANSWER-a person applying for insurance Hazard - ANSWER-conditions that increase the probability of a loss indemnity - ANSWER-restoring the insured to the condition that existed before loss insurance - ANSWER-transfer of risk of loss from an individual to an insurer insurance transaction - ANSWER-solicitation, negotiations, or effectuation of a contract insured - ANSWER-the person covered by the insurance policy insure