Idaho life and health final EXAM(Answered;graded A+)

____is NOT an element of a valid contract. - Countersignature. A 70-year old insured individual has suffered from kidney failure for the past 24 months. She is covered by her spouse's large-group employer plan. How will Medicare be utilized in this situation? - Will be the secondary insurer and pay for claims not fully covered by the group plan. A closed network plan offers a primary physical copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay - 100% of the allowed amount. A credit life and credit disability policy can only be issued for delivery by the - Insurer. A disability policy owner is injured and becomes totally disabled. The benefits pay for 2 years, starting from the date of the injury. What is this time period called? - Benefit period. A fee for service health insurance plan will normally cover - A disease. A hospital or medical expenses policy will typically cover dental treatment expenses under which circumstance? - Dental treatment is needed to repair an injury. A life insurance policy loan shall bear interest at a specified rate, NOT in excess of - 8% A life insurance policy which contains cash values that vary according to its investment performance of stocks is called - Variable Whole Life. A life insurance policy will become incontestable no later than how long after its effective date? - 2 years. A policy owner can receive a percentage payment of the death benefits prior to death by using what kind of contract? - Viatical settlement agreement.