COLORADO HEALTH INSURANCE WITH CORRECT
AND VERIFIED ANSWERS YEAR 2024/2025
Notice of Claim Provision - verified answers-- Company's
Responsibility to supply a claim form to insured w/in 15 DAYS
after receiving notice of claim.
- If insurance company fails to supply claim form with in the
period of time the insured should submit the claim in ANY
FORM.
What are the Mandatory Policy Provisions? AND How many
are there? - verified answers-(12)
1. Entire Contract
2. Time Limit on Certain Defenses
3. Grace Period
4. Reinstatement
5. Notice of Claim
6. Claim Form
7. Proof of Loss
8. Time Payment of Claims
9. Payment of Claims
10. Physical Exam Autopsy
11. Legal Actions
12. Changes of Beneficiary
What are the Optional Policy Provisions? AND How many are
there? - verified answers-(11)
1. Change of Occupation
2. Misstatement of Age
3. Other Insurance w/ this this insurance
4. Insurance w/ other insurer
5. Insurance w/ other insurer
6. Relation of earnings to insurance
7. Unpaid Premiums
8. Cancellation
9. Conformity w/ state statutes
10. Illegal Occupation
, 11. Intoxicants + Narcotics
Entire Contract Provision - verified answers-- Includes the
Actual Policy and Application
- States nothing outside of the contract
- Assures the policyowner that no changes will be made to the
contract or waive any of the provisions after it has been issued
- Can't send additional paperwork later
Time Limit on Certain Defenses Provision - verified answers--
Limits the time that the insurance company can challenge the
validity on insurance claim bases on misstatment made on the
insured's application.
- Incontestable After 2 years
Grace Period Provision - verified answers-- Purpose to give the
policy owner additional time for overdue premium payments
- The effect of non payment will cause the policy to lapse.
- If insured is injured and files a claim during the policies grace
period the amount will be subtracted from the reimbursement.
- Weekly (7 Days)
- Monthly (10 Days)
- Annually (31 Days)
Reinstatement Provision - verified answers-- Specifies that if an
insured fails to pay a renewal premium within the time granted
but the insurer subsequently accepts the premium, coverage
may be restored.
- If no action is taken for the Reinstatement application in 45
days, the policy is reinstated automatically.
- To protect the company against adverse selection, losses
resulting from sickness are covered only if the sickness occurs
at least 10 DAYS after the reinstatement date.
Proof of Loss Provision - verified answers-- The statement that
an insured must give an insurance company to show that a loss
actually occurred is a Proof of Loss
AND VERIFIED ANSWERS YEAR 2024/2025
Notice of Claim Provision - verified answers-- Company's
Responsibility to supply a claim form to insured w/in 15 DAYS
after receiving notice of claim.
- If insurance company fails to supply claim form with in the
period of time the insured should submit the claim in ANY
FORM.
What are the Mandatory Policy Provisions? AND How many
are there? - verified answers-(12)
1. Entire Contract
2. Time Limit on Certain Defenses
3. Grace Period
4. Reinstatement
5. Notice of Claim
6. Claim Form
7. Proof of Loss
8. Time Payment of Claims
9. Payment of Claims
10. Physical Exam Autopsy
11. Legal Actions
12. Changes of Beneficiary
What are the Optional Policy Provisions? AND How many are
there? - verified answers-(11)
1. Change of Occupation
2. Misstatement of Age
3. Other Insurance w/ this this insurance
4. Insurance w/ other insurer
5. Insurance w/ other insurer
6. Relation of earnings to insurance
7. Unpaid Premiums
8. Cancellation
9. Conformity w/ state statutes
10. Illegal Occupation
, 11. Intoxicants + Narcotics
Entire Contract Provision - verified answers-- Includes the
Actual Policy and Application
- States nothing outside of the contract
- Assures the policyowner that no changes will be made to the
contract or waive any of the provisions after it has been issued
- Can't send additional paperwork later
Time Limit on Certain Defenses Provision - verified answers--
Limits the time that the insurance company can challenge the
validity on insurance claim bases on misstatment made on the
insured's application.
- Incontestable After 2 years
Grace Period Provision - verified answers-- Purpose to give the
policy owner additional time for overdue premium payments
- The effect of non payment will cause the policy to lapse.
- If insured is injured and files a claim during the policies grace
period the amount will be subtracted from the reimbursement.
- Weekly (7 Days)
- Monthly (10 Days)
- Annually (31 Days)
Reinstatement Provision - verified answers-- Specifies that if an
insured fails to pay a renewal premium within the time granted
but the insurer subsequently accepts the premium, coverage
may be restored.
- If no action is taken for the Reinstatement application in 45
days, the policy is reinstated automatically.
- To protect the company against adverse selection, losses
resulting from sickness are covered only if the sickness occurs
at least 10 DAYS after the reinstatement date.
Proof of Loss Provision - verified answers-- The statement that
an insured must give an insurance company to show that a loss
actually occurred is a Proof of Loss
