KY Health insurance
And insurance contract is prepared by one party, the insurer, rather than by negotiation between the
contracting parties. This characteristic means that the insurance contract - Answer-Is a contract of
adhesion
The fact that an insurance contract promises to pay benefits contingent on a future uncertainty makes it
what type of contract - Answer-Conditional
Because the obligations of the insurance company hinge on certain acts of the policyholder, the
beneficiary, or both, the insurance contract is termed - Answer-Conditional
All of the following are basic forms of health insurance coverage except - Answer-Limited pay health
Which of the following statements regarding health insurance policies is correct - Answer-Most medical
expense policies are contracts of reimbursement
The amount payable as a death benefit in an accidental death and dismemberment policy is known as
the - Answer-principal sum
,Theodore received a $15,000 cash benefit from his $50,000 accidental death and dismemberment policy
for the accidental loss of one eye. The amount he received could be identified as the policies - Answer-
Capital sum
An accidental death and dismemberment policy paying twice the principal some is known as - Answer-
Double indemnity
Which occupation definition is less restrictive - Answer-Own occupation
Vicks policy stipulates that no benefits will be paid for any illness that occurs during the first 30 days
after the policies effective date. What period is this? - Answer-Probationary period
The shorter the waiting period or Elimination period means - Answer-The higher the premium payment
The longer the waiting period or elimination period means - Answer-The lower the premium payment
Most short term disability income policies provide benefits for - Answer-6months
Most Long term policies provide benefits to - Answer-Age 65 or two years
A percentage of the total disability benefit for periods of partial disability is defined as - Answer-
Residual disability benefit
Partial disability indemnity is what percent of the monthly or weekly indemnity for total disability -
Answer-50%
Partial disability applies largely to - Answer-Accidental disability or severe illnesses, such as heart
attacks
, A second period of disability arises as a result of the same or related cause of prior disability - Answer-
Recurrent disability
A situation where the individual is not disabled immediately but as time passes the person becomes
totally disabled - Answer-Delayed disability
Supplemental income provides additional income during the first ___ months of long-term disability -
Answer-6 to 12 months
What option provides lump sum payments for certain injuries or amputations on a weekly or monthly
payment period - Answer-Elective benefits or indemnities
The purpose of business overhead expense policies are - Answer-To keep the business running due to
the owner becoming disabled
Which of the following is not a basis for occupational sustainability when determining total disability -
Answer-Job interest
Which of the following statements about elimination periods in a disability income policy is not correct -
Answer-Benefits are not payable during an illumination period, but are paid retroactively to the
beginning of the period if the insured remains disabled throughout the period
Which of the following statements pertaining to recurrent disabilities for disability insurance is not
correct - Answer-Recurrent disability policy provisions have no effect on the payment of benefits
The purpose of disability income insurance is to - Answer-Replace income when disability prevents an
individual from working to earn a living
And insurance contract is prepared by one party, the insurer, rather than by negotiation between the
contracting parties. This characteristic means that the insurance contract - Answer-Is a contract of
adhesion
The fact that an insurance contract promises to pay benefits contingent on a future uncertainty makes it
what type of contract - Answer-Conditional
Because the obligations of the insurance company hinge on certain acts of the policyholder, the
beneficiary, or both, the insurance contract is termed - Answer-Conditional
All of the following are basic forms of health insurance coverage except - Answer-Limited pay health
Which of the following statements regarding health insurance policies is correct - Answer-Most medical
expense policies are contracts of reimbursement
The amount payable as a death benefit in an accidental death and dismemberment policy is known as
the - Answer-principal sum
,Theodore received a $15,000 cash benefit from his $50,000 accidental death and dismemberment policy
for the accidental loss of one eye. The amount he received could be identified as the policies - Answer-
Capital sum
An accidental death and dismemberment policy paying twice the principal some is known as - Answer-
Double indemnity
Which occupation definition is less restrictive - Answer-Own occupation
Vicks policy stipulates that no benefits will be paid for any illness that occurs during the first 30 days
after the policies effective date. What period is this? - Answer-Probationary period
The shorter the waiting period or Elimination period means - Answer-The higher the premium payment
The longer the waiting period or elimination period means - Answer-The lower the premium payment
Most short term disability income policies provide benefits for - Answer-6months
Most Long term policies provide benefits to - Answer-Age 65 or two years
A percentage of the total disability benefit for periods of partial disability is defined as - Answer-
Residual disability benefit
Partial disability indemnity is what percent of the monthly or weekly indemnity for total disability -
Answer-50%
Partial disability applies largely to - Answer-Accidental disability or severe illnesses, such as heart
attacks
, A second period of disability arises as a result of the same or related cause of prior disability - Answer-
Recurrent disability
A situation where the individual is not disabled immediately but as time passes the person becomes
totally disabled - Answer-Delayed disability
Supplemental income provides additional income during the first ___ months of long-term disability -
Answer-6 to 12 months
What option provides lump sum payments for certain injuries or amputations on a weekly or monthly
payment period - Answer-Elective benefits or indemnities
The purpose of business overhead expense policies are - Answer-To keep the business running due to
the owner becoming disabled
Which of the following is not a basis for occupational sustainability when determining total disability -
Answer-Job interest
Which of the following statements about elimination periods in a disability income policy is not correct -
Answer-Benefits are not payable during an illumination period, but are paid retroactively to the
beginning of the period if the insured remains disabled throughout the period
Which of the following statements pertaining to recurrent disabilities for disability insurance is not
correct - Answer-Recurrent disability policy provisions have no effect on the payment of benefits
The purpose of disability income insurance is to - Answer-Replace income when disability prevents an
individual from working to earn a living
