GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
Loss - ANSWERS-The reduction, decrease, or disappearance of a value
of the person or property insured in a policy, by a peril insured against.
Loss of Income Insurance - ANSWERS-Insurance that pays benefits for
inability to work because of disability resulting from accidental bodily
injury or sickness.
Major Medical Insurance - ANSWERS-A type of health insurance that
usually carries a large deductible and pays covered expenses up to a high
limit whether the insured is in or out of the hospital.
Medicaid - ANSWERS-A medical benefits program jointly administered
by the individual states and federal government.
Medical Expense Insurance - ANSWERS-A type of insurance that pays
benefits for medical, surgical, and hospital costs.
Medical Information Bureau (MIB) - ANSWERS-An information
database that stores the health histories of individuals who have applied
END OF
PAGE
1
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
for insurance in the past. Most insurance companies subscribe to this
database for underwriting purposes.
Medical Savings Account - ANSWERS-An employer-funded account
linked to a high deductible medical insurance plan.
Medicare - ANSWERS-The United States federal government plan for
paying certain hospital and medical expenses for persons who qualify
Medicare Supplement Insurance - ANSWERS-A type of individual or
group insurance that fills the gaps in the protection provided by
Medicare, but that cannot duplicate any Medicare benefits.
Medigap - ANSWERS-Medicare supplement plans issued by private
insurance companies that are designed to fill some of the gaps in
Medicare.
Misrepresentation - ANSWERS-A false statement or lie that can render
the contract void.
END OF
PAGE
2
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
Morbidity Rate - ANSWERS-The ratio of the incidence of sickness to
the number of well persons in a given group of people over a given
period of time.
Morbidity Table - ANSWERS-A table showing the incidence of
sickness at specified ages.
Multiple Employer Trust (MET) - ANSWERS-A group of small
employers who do not qualify for group insurance individually, formed
to establish a group health plan or self-funded plan.
Multiple Employer Welfare Association (MEWA) - ANSWERS-Any
entity of at least two employers, other than a duly admitted insurer, that
establishes an employee benefit plan for the purpose of offering or
providing accident and sickness or death benefits to the employees.
Mutual Companies - ANSWERS-Insurance organizations that have no
capital stock, but are owned by the policyholders.
END OF
PAGE
3
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
Nonadmitted (Nonauthorized) - ANSWERS-An insurance company that
has not applied for, or has applied and been denied a Certificate of
Authority and may not transact insurance in a particular state.
Nonauthorized (Nonadmitted) - ANSWERS-An insurance company that
has not applied for, or has applied and been denied a Certificate of
Authority and may not transact insurance in a particular state.
noncancellable - ANSWERS-An insurance contract that the insured has
the right to continue in force by payment of premiums that remain the
same for a substantial period of time.
Nonmedical - ANSWERS-A life or health insurance policy that is
underwritten based on the insurer's statement of health rather than a
medical examination.
Nonrenewal - ANSWERS-A termination of a policy by An insurer on
the anniversary of renewable date.
END OF
PAGE
4
HEALTH INSURANCE
EXAM
Loss - ANSWERS-The reduction, decrease, or disappearance of a value
of the person or property insured in a policy, by a peril insured against.
Loss of Income Insurance - ANSWERS-Insurance that pays benefits for
inability to work because of disability resulting from accidental bodily
injury or sickness.
Major Medical Insurance - ANSWERS-A type of health insurance that
usually carries a large deductible and pays covered expenses up to a high
limit whether the insured is in or out of the hospital.
Medicaid - ANSWERS-A medical benefits program jointly administered
by the individual states and federal government.
Medical Expense Insurance - ANSWERS-A type of insurance that pays
benefits for medical, surgical, and hospital costs.
Medical Information Bureau (MIB) - ANSWERS-An information
database that stores the health histories of individuals who have applied
END OF
PAGE
1
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
for insurance in the past. Most insurance companies subscribe to this
database for underwriting purposes.
Medical Savings Account - ANSWERS-An employer-funded account
linked to a high deductible medical insurance plan.
Medicare - ANSWERS-The United States federal government plan for
paying certain hospital and medical expenses for persons who qualify
Medicare Supplement Insurance - ANSWERS-A type of individual or
group insurance that fills the gaps in the protection provided by
Medicare, but that cannot duplicate any Medicare benefits.
Medigap - ANSWERS-Medicare supplement plans issued by private
insurance companies that are designed to fill some of the gaps in
Medicare.
Misrepresentation - ANSWERS-A false statement or lie that can render
the contract void.
END OF
PAGE
2
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
Morbidity Rate - ANSWERS-The ratio of the incidence of sickness to
the number of well persons in a given group of people over a given
period of time.
Morbidity Table - ANSWERS-A table showing the incidence of
sickness at specified ages.
Multiple Employer Trust (MET) - ANSWERS-A group of small
employers who do not qualify for group insurance individually, formed
to establish a group health plan or self-funded plan.
Multiple Employer Welfare Association (MEWA) - ANSWERS-Any
entity of at least two employers, other than a duly admitted insurer, that
establishes an employee benefit plan for the purpose of offering or
providing accident and sickness or death benefits to the employees.
Mutual Companies - ANSWERS-Insurance organizations that have no
capital stock, but are owned by the policyholders.
END OF
PAGE
3
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
Nonadmitted (Nonauthorized) - ANSWERS-An insurance company that
has not applied for, or has applied and been denied a Certificate of
Authority and may not transact insurance in a particular state.
Nonauthorized (Nonadmitted) - ANSWERS-An insurance company that
has not applied for, or has applied and been denied a Certificate of
Authority and may not transact insurance in a particular state.
noncancellable - ANSWERS-An insurance contract that the insured has
the right to continue in force by payment of premiums that remain the
same for a substantial period of time.
Nonmedical - ANSWERS-A life or health insurance policy that is
underwritten based on the insurer's statement of health rather than a
medical examination.
Nonrenewal - ANSWERS-A termination of a policy by An insurer on
the anniversary of renewable date.
END OF
PAGE
4
