Life health and accident insurance Study guides, Revision notes & Summaries

50. Mary is an employee who is covered with a disability income policy through her employer. She pays for the portion of the premium attributable to the cost of residual disability benefits, while her employer pays for the remainder. What are the tax implications of this policy? 51. What is the name of the period of time during which a new employee is ineligible for group Health insurance coverage? 52. Under HIPAA, medical plan late enrollees may be excluded for pre-existing conditions for...

85. A contract that heavily restricts one party while leaving the other free (as some standard form printed contracts), and implies inequality in bargaining power is: 1. A contract of adhesion 2. A conditional contract 3. An aleatory contract 4. A unilateral contract 86. There are number of clauses in an insurance contract. One of the clauses identifies the contracting parties (the insured and the insurance company) and also the scope and limits of coverage. This clause is referred to as:...

45. Many small business owners worry how their business would survive financially if the owner becomes disabled. The policy which BEST addresses this concern is 46. How does group insurance differ from individual insurance? 47. The Coordination of Benefits provision 48. What kind of Accidental Death and Dismemberment (AD&D) insurance beneficiary requires his/her consent when a change of beneficiary is made? 49. An accident policy will most likely pay a benefit for a(n) 50. The dif...

20. A group Disability Income plan that pays tax-free benefits to covered employees is considered A. Non-contributory B. Partially contributory C. Group contributory D. Fully contributory 21. Which of the following would evidence ownership in a participating health insurance contract? A. Stock ownership B. Irrevocable beneficiary status C. Policy ownership D. Collateral assignment 22. Which of the following does Coordination of Benefits allow? A. Allows the secondary payor to redu...

PA Life, Accident, & Health Insurance Exam With 100% Correct Answers 2023

Life, Accident And Health Exam With 100% Correct Answers 2023

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