Xcel Solutions Final Exam Maryland Life and Health Insurance | Questions with 100% Correct Answers | Verified | Latest Update 2024

What is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? - A reduction in benefits A group-owned insurance company that is formed to assume and spread the liability risks of its members is known as a - Risk retention group During the application process, a statement made by an applicant that becomes part of the contract is considered to be a(n) - Warranty What is taken into consideration when defining "total disability" in a disability income insurance policy? - The insured's education, training and expirence Sarah, age 88, is a life annuitant who has lived beyond her life expectancy. The funds for additional benefit payments will be derived primarily from funds that were - not distributed to life annuitants who died before life expectancy Which type of policy can group term life insurance normally be converted to? - An individual permanent life insurance policy Impatient psychiatric care is covered under Part A Medicare insurance for 190 days per - Lifetime