Nevada Life & Health Review Correct Questions & Answers(Rated A+)
What term describes the specified dollar amount beyond which the insured no longer participates in the sharing of expenses? - ANSWER Stop-loss limit What would be INCORRECT about the required provisions of a health insurance policy? - ANSWER A reinstated policy provides immediate coverage for an illness In a disability policy, the probationary period refers to what? - ANSWER Time, during which illness-related disabilities are excluded from coverage How soon following the occurrence of a covered loss must an insured submit written proof of such loss to the insurance company? - ANSWER Within 90 days or as soon as reasonably possible, but not to exceed 1 year. An insured has endured multiple surgeries and hospitalizations for an illness during the summer months. Her insurer no longer bills her for medical expenses. What term best describes the condition she has met? - ANSWER Stop-loss Limit Which of the following information will be stated in the consideration clause of a life insurance policy? - ANSWER The amount of premium payment The relation of earnings to insurance provision allows the insurance company to limit the insured's benefits to his/her average income over the last how many months? - ANSWER 24 months. A hospital indemnity policy will pay what? - ANSWER A benefit for each day the insured is in a hospital. Which option for Universal life allows the beneficiary to collect both the death benefit and cash value upon the death of the insured? - ANSWER Option B
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