Xcel solutions final exam Maryland Life and health Questions and Answers

Xcel solutions final exam Maryland Life and health Questions and Answers What is normally the consequence for NOT obtaining preadmission certification prior to receiving inpatient medical care? - Correct Answer ️️ -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 - Correct Answer ️️ -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) - Correct Answer ️️ -Warranty What is taken into consideration when defining "total disability" in a disability income insurance policy? - Correct Answer ️️ -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 - Correct Answer ️️ -not distributed to life annuitants who died before life expectancy Which type of policy can group term life insurance normally be converted to? - Correct Answer ️️ -An individual permanent life insurance policy Impatient psychiatric care is covered under Part A Medicare insurance for 190 days per - Correct Answer ️️ -Lifetime A source of supplemental income for a life insurance policyowner can be derived from the - Correct Answer ️️ -Cash value The absolute assignment of a life insurance policy results in - Correct Answer ️️ -all incidents of ownership transferred to the assignee All of these statements concerning group credit life insurance are false EXCEPT - Correct Answer ️️ -The face amount is based on the outstanding loan balance Which statement concerning adjustable life insurance is accurate? - Correct Answer ️️ -The face amount and premiums can be changed simultaneously by the policyowner Which settlement option makes minimum guaranteed dollar payments over a stated number of years? - Correct Answer ️️ -Fixed-Period Insurance is NOT characterized as which of the following? - Correct Answer ️️ -As the number of insureds increase the number of losses decrease All of these statements correctly describe an aleatory contract EXCEPT - Correct Answer ️️ -Only one party makes any kind of legally enforceable offer Which of these policies is considered to be a comprehensive health policy? - Correct Answer ️️ -Major medical policy Which of the following is true regarding a person receiving a waiver of premium benefit? - Correct Answer ️️ -The insured must be disabled for a period of time Karen is a health maintenance organization (HMO) subscriber. Who provides all of her preventative and routine care? - Correct Answer ️️ -Primary care physician How would preventative care be encouraged in a dental plan? - Correct Answer ️️ -No deductible on routine examinations Which of the following financial products creates an instant estate, no matter when the date of death? - Correct Answer ️️ -Life insurance