NJ Health Insurance Exam Questions and Answers Latest Updated

30 day free look in health insurance - CORRECT ANSWER—dread disease -Medicare supplement -long term care -any kind of insurance through direct response sales A 68 year old man had a heart attack on January 1st. Three months later he purchased an individual health insurance policy. On December 1st of that year he has another heart attack. Which type of policy would he have had to purchase for it to cover the December heart attack? - CORRECT ANSWER-Medicare supplement A common "benefit trigger" in a long term care policy involves the insured's ability to perform which of the following - CORRECT ANSWER-Activities of Daily Living (ADC's) A Medicare supplement contract may not deny a claim due to preexisting conditions if it is incurred more than - CORRECT ANSWER-6 months from the effective date of the coverage A point-of-service (pos) plan operates like a combination of - CORRECT ANSWERHMO and PPO According to one of the mandatory provisions in a health insurance policy, the insured is prevented from filing suit against the insurer for - CORRECT ANSWER-at least 60 days and not longer than 3 years from proof of loss Advertisements must be maintained on file at the principal office of the insurer CORRECT ANSWER-For 5 years from last use An A&H policy was cancelled by the insurance company, it becomes effective CORRECT ANSWER-in 5 days An agent discussing disability income coverage with an individual who has recently finished college and started with an entry level job. What rider should the agent recommend for the client? - CORRECT ANSWER-Guaranteed insurability rider Allows you to purchase additional disability income insurance in the future without having to prove insurability An individual who has had a heart murmur since birth is likely to be issued a policy that includes - CORRECT ANSWER-An impairment rider An insured has the right to submit a written description of the loss in their own words under what circumstances? - CORRECT ANSWER-If the insurer fails to provide proper claim forms within 15 days An insurer may provide a short-rate premium refund - CORRECT ANSWER-if the insured cancels a policy Another term for "stop loss limit" - CORRECT ANSWER-out of pocket limit Basic Hospital Plan covers - CORRECT ANSWER--daily hospital room & board -miscellaneous hospital services -Hospital outpatient services Basic medical plan - CORRECT ANSWER-Minimal benefits -No deductible