Nebraska Life and Health License Exam Complete Guide
What is a life insurance rider?
A life insurance rider is an additional provision that can be added to a policy to customize coverage, such
as adding critical illness or accidental death benefits. ✔️✔️
How can individuals lower their life insurance premiums?
Individuals can lower their life insurance premiums by maintaining a healthy lifestyle, shopping around
for competitive rates, and opting for a higher deductible or term length. ✔️✔️
What is the difference between a copayment and a coinsurance?
A copayment is a fixed amount paid for a specific service at the time of care, while coinsurance is a
percentage of the total cost of a service that the insured pays after meeting their deductible. ✔️✔️
What is a maximum lifetime benefit in a health insurance policy?
A maximum lifetime benefit is the total amount a health insurance policy will pay for covered medical
expenses over the insured's lifetime. ✔️✔️
Can life insurance proceeds be taxed?
Generally, life insurance proceeds paid to beneficiaries are not subject to federal income tax, but they
may be subject to estate taxes in certain situations. ✔️✔️
What is the purpose of a waiting period in health insurance?
,The waiting period in health insurance is the time before coverage begins for certain conditions or
services, often used to manage costs and prevent adverse selection. ✔️✔️
How does a family health insurance plan differ from an individual plan?
A family health insurance plan covers multiple family members under a single policy, while an individual
plan provides coverage for one person only. ✔️✔️
What is the importance of reviewing health insurance annually?
Reviewing health insurance annually allows individuals to assess changes in their health needs, update
their coverage, and ensure they are getting the best value for their premiums. ✔️✔️
What is a policyholder in life insurance?
A policyholder in life insurance is the person who owns the policy, pays the premiums, and has the right
to make changes, such as naming beneficiaries. ✔️✔️
What does guaranteed issue mean in health insurance?
Guaranteed issue means that an insurance provider must offer coverage without regard to the
applicant's health status, often seen in special enrollment periods or specific plans. ✔️✔️
How can someone appeal a denied health insurance claim?
To appeal a denied health insurance claim, the insured should review the claim denial letter, gather
supporting documentation, and submit a written appeal to the insurance company, following their
process. ✔️✔️
What are essential health benefits in health insurance?
, Essential health benefits are a set of health care service categories that must be covered by plans
offered in the health insurance marketplace, including emergency services, maternity care, and
prescription drugs. ✔️✔️
What is the impact of lifestyle choices on life insurance rates?
Lifestyle choices, such as smoking, alcohol use, and exercise habits, can significantly impact life
insurance rates, with healthier lifestyles generally leading to lower premiums. ✔️✔️
What is a pre-existing condition in health insurance?
A pre-existing condition is a health issue that existed before obtaining a health insurance policy, which
may affect coverage options and premiums. ✔️✔️
What does it mean for a health insurance plan to be in-network?
A health insurance plan being in-network means it has contracted with specific healthcare providers to
offer services at reduced rates, benefiting insured members financially. ✔️✔️
How often should beneficiaries be reviewed on a life insurance policy?
Beneficiaries on a life insurance policy should be reviewed regularly, especially after major life events
such as marriage, divorce, or the birth of a child, to ensure the policy reflects current wishes. ✔️✔️
What is the purpose of preventive care in health insurance?
Preventive care in health insurance aims to detect health issues early through screenings and check-ups,
reducing the risk of serious conditions and improving overall health outcomes. ✔️✔️
What is a health insurance marketplace?
What is a life insurance rider?
A life insurance rider is an additional provision that can be added to a policy to customize coverage, such
as adding critical illness or accidental death benefits. ✔️✔️
How can individuals lower their life insurance premiums?
Individuals can lower their life insurance premiums by maintaining a healthy lifestyle, shopping around
for competitive rates, and opting for a higher deductible or term length. ✔️✔️
What is the difference between a copayment and a coinsurance?
A copayment is a fixed amount paid for a specific service at the time of care, while coinsurance is a
percentage of the total cost of a service that the insured pays after meeting their deductible. ✔️✔️
What is a maximum lifetime benefit in a health insurance policy?
A maximum lifetime benefit is the total amount a health insurance policy will pay for covered medical
expenses over the insured's lifetime. ✔️✔️
Can life insurance proceeds be taxed?
Generally, life insurance proceeds paid to beneficiaries are not subject to federal income tax, but they
may be subject to estate taxes in certain situations. ✔️✔️
What is the purpose of a waiting period in health insurance?
,The waiting period in health insurance is the time before coverage begins for certain conditions or
services, often used to manage costs and prevent adverse selection. ✔️✔️
How does a family health insurance plan differ from an individual plan?
A family health insurance plan covers multiple family members under a single policy, while an individual
plan provides coverage for one person only. ✔️✔️
What is the importance of reviewing health insurance annually?
Reviewing health insurance annually allows individuals to assess changes in their health needs, update
their coverage, and ensure they are getting the best value for their premiums. ✔️✔️
What is a policyholder in life insurance?
A policyholder in life insurance is the person who owns the policy, pays the premiums, and has the right
to make changes, such as naming beneficiaries. ✔️✔️
What does guaranteed issue mean in health insurance?
Guaranteed issue means that an insurance provider must offer coverage without regard to the
applicant's health status, often seen in special enrollment periods or specific plans. ✔️✔️
How can someone appeal a denied health insurance claim?
To appeal a denied health insurance claim, the insured should review the claim denial letter, gather
supporting documentation, and submit a written appeal to the insurance company, following their
process. ✔️✔️
What are essential health benefits in health insurance?
, Essential health benefits are a set of health care service categories that must be covered by plans
offered in the health insurance marketplace, including emergency services, maternity care, and
prescription drugs. ✔️✔️
What is the impact of lifestyle choices on life insurance rates?
Lifestyle choices, such as smoking, alcohol use, and exercise habits, can significantly impact life
insurance rates, with healthier lifestyles generally leading to lower premiums. ✔️✔️
What is a pre-existing condition in health insurance?
A pre-existing condition is a health issue that existed before obtaining a health insurance policy, which
may affect coverage options and premiums. ✔️✔️
What does it mean for a health insurance plan to be in-network?
A health insurance plan being in-network means it has contracted with specific healthcare providers to
offer services at reduced rates, benefiting insured members financially. ✔️✔️
How often should beneficiaries be reviewed on a life insurance policy?
Beneficiaries on a life insurance policy should be reviewed regularly, especially after major life events
such as marriage, divorce, or the birth of a child, to ensure the policy reflects current wishes. ✔️✔️
What is the purpose of preventive care in health insurance?
Preventive care in health insurance aims to detect health issues early through screenings and check-ups,
reducing the risk of serious conditions and improving overall health outcomes. ✔️✔️
What is a health insurance marketplace?
