Final exam- Michigan life and health Correct Questions And Answers!!
A health insurance policy that allows an insurer to change the policy owners premiums, but not cancel the policy is called - ANSWER Guaranteed renewable policy Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? - ANSWER Hospital indemnity A life insurance policy that contains a guaranteed interest rate with the chance to earn a rate that is higher than the guaranteed rate is called - ANSWER Universal Life Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. This change is called a(n) crossover conversion exchange extension of benefits - ANSWER conversion Major medical insurance will typically cover medical expenses that result from - ANSWER a negative reaction to prescribed medication A Medicare supplement basic benefit is - ANSWER the first 3 pints of blood per year All of the following are considered to be non-forfeiture options available to a policy owner except - ANSWER Reduction of premium
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