Georgia Life and Health Insurance
Accident Correct answers An unplanned unforseen event which occurs
suddenly at an unspecified place
Accident insurance Correct answers A type of insurance that protects
the insured against loss due to an accidental bodily injury
Accidental bodily injury Correct answers Unplanned unforseen traumatic
injury to the body
Accidental Death and Dismemberment Correct answers An insurance policy
which pays a specified number or specified multiple of the insurer's benefit if
the insured dies, loses his/her sight, or loses two limbs due to an accident.
Acquired Immunodeficiency Symdrome Correct answers An infectious and
incurable disease caused by the human immunodeficiency virus (hiv)
Activities of daily living Correct answers Activities individuals must do every
day such as moving about, getting dressed, eating, bathing, etc.
Actual charge Correct answers The amount a physician or supplier
actually bills for a particular service or supply.
Adhesion Correct answers A contract offered on a "take it or leave it"
basis by an insured, in which the insured's only option is to accept or
reject the contract. Any ambiguities in the contract will be settled in
favor of the imsured.
Admitted (Authorized) Insurer Correct answers An insurance company
authorized and licensed to transact business in a particular state.
Adult Day Care Correct answers A program for impaired adults that
attempts to meet their health, social, and functional needs in a setting
away from their homes.
Adverse Selection Correct answers The tendency of risks witha higher
probability of loss to purchase and maintain insurance more often than the
risks who present lower probability
Agent Correct answers An individual who is licensed to sell,
negotiate, or effect insurance contracts on behalf of an insurer.
,Aleatory Correct answers A contract in which participating parties
exchange unequal amounts. Insurance contracts are aleatory in that the
amount the insured will pay in premiums is unequal to the amount the
insurer will pay in the event of a loss.
Alien Insurer Correct answers An insurance company that is incorporated
outside the United States.
Alzheimer's Disease Correct answers A disease that causes the victim
to become dysfunctional due to degeneration of brain cells and severe
memory loss.
Ancillary Correct answers Additional, miscellaneous services provided by a
hospital, such as x-rays, anesthesia, and lab work, but not hospital room
and board expenses.
Apparent Authority Correct answers The appearance or the assumption of
authority based on the actions, words, or deeds of the principal or because
of circumstances the principal created.
Approved Amount Correct answers The amount Medicare determines to be
reasonable for a service that is covered under part B of Medicare.
Assignment Correct answers A claim to a provider or medical supplier
to receive payments directly from Medicare.
Attained Age Correct answers The age of the insured at a determined
date.
Attending Physician Statement (APS) Correct answers A statement usually
obtained from the applicant's doctor.
Avoidance Correct answers A method of dealing with risk (e.g. if a person
wanted to avoid the risk of being killed in an airplane crash, he/she might
choose never to fly in a plane).
Basic Hospital Expense Insurance Correct answers Coverage that provides
benefits for room, board and miscellaneous hospital expenses for a certain
number of days during a hospital stay.
Basic Medical Expense Insurance Correct answers Coverage for doctor
visits, x-rays, lab tests, and emergency room visits; benefits, however, are
limited to specified dollar amounts.
Beneficiary Correct answers The person who receives the proceeds from
the policy when the insured dies.
Benefit Period Correct answers The length of time over which the insurance
benefits will be paid for each illness, disability, or hospital stay
, Birthday Rule Correct answers The method of determining primary
coverage for a dependent child, under which the plan of the parent whose
birthday occurs first in the calendar year is designated as primary.
Boycott Correct answers An unfair trade practice in which one person
refuses to do business with another until he or she agrees to certain
comditioms.
Blanket Medical Insurance Correct answers A policy that provides
benefits for all medical costs, including doctor visits, hospitalization,
and drugs.
Buyers Guide Correct answers A booklet that describes insurance
policies and concepts, and provides general information to help an
applicant make an informed decision.
Cafeteria Plan Correct answers A selection of health care benefits from
which an employee may choose the ones that he/she needs.
Capital Amount Correct answers A percentage of the principal amount of a
policy paid to the insured if he/she suffered the loss of an appendage.
Carriers Correct answers Organizations that process claims and pay
benefits in an insurance policy
Cease and Desist Order Correct answers A demand of a person to stop
committing an action that is in violation of a provision.
Certificate Authority Correct answers A document that authorizes a company
to start conducting business and specifies the kind(s) of insurance a
company can transact. It is illegal for an insurance company to transact
insurance without this certificate.
Certificate of Insurance Correct answers A written document that
indicates that an insurance policy has been issued, and that states both
the amounts and types of insurance provided.
Claim Correct answers A request for payment of the benefits provided by an
insurance contract.
Coercion Correct answers An unfair trade practice in which an insurer uses
physical or mental force to persuade an applicant to buy insurance.
Coinsurance Correct answers An agreement between an insurer and
insured in which both parties are expected to pay a certain portion of the
potential loss and other expenses.
Accident Correct answers An unplanned unforseen event which occurs
suddenly at an unspecified place
Accident insurance Correct answers A type of insurance that protects
the insured against loss due to an accidental bodily injury
Accidental bodily injury Correct answers Unplanned unforseen traumatic
injury to the body
Accidental Death and Dismemberment Correct answers An insurance policy
which pays a specified number or specified multiple of the insurer's benefit if
the insured dies, loses his/her sight, or loses two limbs due to an accident.
Acquired Immunodeficiency Symdrome Correct answers An infectious and
incurable disease caused by the human immunodeficiency virus (hiv)
Activities of daily living Correct answers Activities individuals must do every
day such as moving about, getting dressed, eating, bathing, etc.
Actual charge Correct answers The amount a physician or supplier
actually bills for a particular service or supply.
Adhesion Correct answers A contract offered on a "take it or leave it"
basis by an insured, in which the insured's only option is to accept or
reject the contract. Any ambiguities in the contract will be settled in
favor of the imsured.
Admitted (Authorized) Insurer Correct answers An insurance company
authorized and licensed to transact business in a particular state.
Adult Day Care Correct answers A program for impaired adults that
attempts to meet their health, social, and functional needs in a setting
away from their homes.
Adverse Selection Correct answers The tendency of risks witha higher
probability of loss to purchase and maintain insurance more often than the
risks who present lower probability
Agent Correct answers An individual who is licensed to sell,
negotiate, or effect insurance contracts on behalf of an insurer.
,Aleatory Correct answers A contract in which participating parties
exchange unequal amounts. Insurance contracts are aleatory in that the
amount the insured will pay in premiums is unequal to the amount the
insurer will pay in the event of a loss.
Alien Insurer Correct answers An insurance company that is incorporated
outside the United States.
Alzheimer's Disease Correct answers A disease that causes the victim
to become dysfunctional due to degeneration of brain cells and severe
memory loss.
Ancillary Correct answers Additional, miscellaneous services provided by a
hospital, such as x-rays, anesthesia, and lab work, but not hospital room
and board expenses.
Apparent Authority Correct answers The appearance or the assumption of
authority based on the actions, words, or deeds of the principal or because
of circumstances the principal created.
Approved Amount Correct answers The amount Medicare determines to be
reasonable for a service that is covered under part B of Medicare.
Assignment Correct answers A claim to a provider or medical supplier
to receive payments directly from Medicare.
Attained Age Correct answers The age of the insured at a determined
date.
Attending Physician Statement (APS) Correct answers A statement usually
obtained from the applicant's doctor.
Avoidance Correct answers A method of dealing with risk (e.g. if a person
wanted to avoid the risk of being killed in an airplane crash, he/she might
choose never to fly in a plane).
Basic Hospital Expense Insurance Correct answers Coverage that provides
benefits for room, board and miscellaneous hospital expenses for a certain
number of days during a hospital stay.
Basic Medical Expense Insurance Correct answers Coverage for doctor
visits, x-rays, lab tests, and emergency room visits; benefits, however, are
limited to specified dollar amounts.
Beneficiary Correct answers The person who receives the proceeds from
the policy when the insured dies.
Benefit Period Correct answers The length of time over which the insurance
benefits will be paid for each illness, disability, or hospital stay
, Birthday Rule Correct answers The method of determining primary
coverage for a dependent child, under which the plan of the parent whose
birthday occurs first in the calendar year is designated as primary.
Boycott Correct answers An unfair trade practice in which one person
refuses to do business with another until he or she agrees to certain
comditioms.
Blanket Medical Insurance Correct answers A policy that provides
benefits for all medical costs, including doctor visits, hospitalization,
and drugs.
Buyers Guide Correct answers A booklet that describes insurance
policies and concepts, and provides general information to help an
applicant make an informed decision.
Cafeteria Plan Correct answers A selection of health care benefits from
which an employee may choose the ones that he/she needs.
Capital Amount Correct answers A percentage of the principal amount of a
policy paid to the insured if he/she suffered the loss of an appendage.
Carriers Correct answers Organizations that process claims and pay
benefits in an insurance policy
Cease and Desist Order Correct answers A demand of a person to stop
committing an action that is in violation of a provision.
Certificate Authority Correct answers A document that authorizes a company
to start conducting business and specifies the kind(s) of insurance a
company can transact. It is illegal for an insurance company to transact
insurance without this certificate.
Certificate of Insurance Correct answers A written document that
indicates that an insurance policy has been issued, and that states both
the amounts and types of insurance provided.
Claim Correct answers A request for payment of the benefits provided by an
insurance contract.
Coercion Correct answers An unfair trade practice in which an insurer uses
physical or mental force to persuade an applicant to buy insurance.
Coinsurance Correct answers An agreement between an insurer and
insured in which both parties are expected to pay a certain portion of the
potential loss and other expenses.
