Arkansas Health Insurance Exam Questions & 100% Accurate!

What are the 2 different perils of health insurance? - ANSWER Accident and Sickness What is the definition of Accident? - ANSWER Unintentional bodily injury caused by an unforeseen event What is the definition of Sickness? - ANSWER A need for medical care due to a cause other than an accident What are the types of limited policies? - ANSWER Accident only Dread disease Hospital income(indemnity) insurance Credit disability Blanket coverage Prescription drugs Vision care Hearing insurance Short term medical expense plans What are the common health ins exclusions? - ANSWER Intentional self inflicted injuries War Elective cosmetic surgery Worker's compensation Commission or attempted felony What are the 12 mandatory policy provisions? - ANSWER Entire Contract Incontestability clause Grace period Reinstatement Notice of claim Claim forms Proof of loss Time of payment of claims Payment of claims Physical exam & autopsy Legal actions Change of beneficiary What are the 5 types of renewability and what do they mean? - ANSWER 1)cancelable- can cancel at anytime 2)Optionally Renewable- has option to renew or not for any reason on a premium due date or anniversary 3)Conditionally Renewable-may terminate coverage but only for reasons not based off insureds health such as reaching a certain age 4)Guaranteed Renewable- policy can't be canceled except for non payment of premiums 5)Non cancelable- can't cancel coverage or raise premiums except for non payment Whats an elimination period? - ANSWER Period insured must be disbaled for, before benefits begin. Anywhere from 30-180 Days. Longer elimination period means a more affordable plan What is presumptive disability? - ANSWER a condition that automatically qualifies