Missouri Health Insurance Questions With Correct Answers(Rated A+)

Missouri Health Insurance Questions With Correct Answers(Rated A+) An agent is ready to deliver a policy to an applicant but has not yet received payment. Upon delivery, the agent collects the applicant's premium check, answers any questions the applicant may have, and then leaves. What did he forget to do? -ANSWER Ask her to sign a statement of good health An insured misstated her age on an application for an individual health insurance policy. The insurance company found the mistake after the contestable period had expired. The insurance company will take which of the following actions regarding any claim that has been issued? -ANSWER Adjust the claim benefit to reflect the insured's true age What is an important feature of a dental expense insurance plan that is NOT typically found in a medical expense insurance plan? -ANSWER Diagnostic and preventive care When an insured makes truthful statements on the application for insurance and pays the required premium, it is known as which of the following? -ANSWER Consideration When an insurer issues an individual health insurance policy that is guaranteed renewable, the insurer agrees -ANSWER To renew the policy until the insured has reached age 65. According to the rights of renewability rider for cancellable policies, all of the following are correct about the cancellation of an individual insurance policy EXCEPT -ANSWER Unearned premiums are retained by the insurance company. Which of the following statements regarding the taxation of Modified Endowment Contracts is FALSE? -ANSWER Withdrawals are not taxable. A father owns a life insurance policy on his 15-year-old daughter. The policy contains the optional Payor Benefit rider. If the father becomes disabled, what will happen to the life insurance premiums? -ANSWER The insured's premiums will be waived until she is 21. Which of the following statements is NOT true concerning Medicaid? -ANSWER It consists of 3 parts: Part A: hospitalization, Part B: doctor's services, Part C: disability income. The premium charged for exercising the Guaranteed Insurability Rider is based upon the insured's -ANSWER Attained age. When the policyowner specifies a dollar amount in which installments are to be paid, he/she has chosen which settlement option? -ANSWER Fixed amount An insured receives an annual life insurance dividend check. What term best describes this arrangement? -ANSWER Cash option If the insured under a disability income insurance policy changes to a more hazardous occupation after the policy has been issued, and a claim is filed, the insurance company sh