New York Accident & Health Insurance (The Updated Correct Questions with Answers) 100% A+ Graded

New York Accident & Health Insurance (The Updated Correct Questions with Answers) 100% A+ Graded Independent Adjuster - CORRECT ANSWER-A person, firm or corporation acts on behalf of an insurer. (For profit) Insurance Company Public Adjuster - CORRECT ANSWER-A person, firm or corporation acts on behalf of an insured. Negotiating certain claims for loss of damage to property. Cancellable Health Insurance - CORRECT ANSWER-Insurance policies provide insurer right to cancel coverage at any time. Giving number of days notice. (as little as five days) Noncancellable Health Inusurance - CORRECT ANSWER-Contracts can't be cancelled by an insurer for any reason. Exceptions include fraudulent claim or non-payment of premium. Conditionally Renewable - CORRECT ANSWER-Policies provide insurer with the right to refuse to renew coverage for certain conditions stated in the policy. Can't refuse to renew on basis of declining health. ERISA - CORRECT ANSWER-Employee Retirement Income Security Act (1974) Insured's Notice of Claim - CORRECT ANSWER-Policyholder must give notice of a claim within 20 days or as soon as reasonably possible. Standard Claim Forms - CORRECT ANSWER-15 days after notice of claim Proof of Loss - CORRECT ANSWER-Required 90 days after the end of a period which the insurer is liable. Permanent total disability - CORRECT ANSWER-Most severe, insurer will never work again. Temporary total disability - CORRECT ANSWER-Renders insurer incapable of working for a certain time-frame. Recovery is seen Permanent partial disability - CORRECT ANSWER-Injury that is permanent but won't stop the individual from returning to work. (loss of leg, arm etc) Temporary partial disability - CORRECT ANSWER-Least severe, keeps individual out of work for a few days. Elimination period - CORRECT ANSWER-Time an injured person must be disabled before benefits take effect. Total Benefit - CORRECT ANSWER-Full amount specified in the insurance policy for the benefit period which he/she is qualified for. Partial Disability - CORRECT ANSWER-Inability for insured to carry on all the duties of his/her job. Benefits are paid on percentage of lost income. Residual Disability - CORRECT ANSWER-Based on the proportion of income that the insured has lost. Taking into consideration that he/she can work and earn a portion of their income.