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ALL RIGHTS RESERVED.
Oklahoma Life, Health and Accident
Insurance License Exam (Health Only) Study
Guide.
Grace Period - Answers✔Period of time the policy remains in force after the premium is past
due. 7 days grace period if premium is collected weekly. 10 days grace period if premium is
collected monthly. 31 days grace period if premium is collected any other premium frequency.
Upon the date of reinstatement: - Answers✔Coverage for accidents is immediate. Coverage for
sickness begins 10 days after the policy reinstatement.
Time Frame of Loss - Answers✔20 days to notify insurer. 15 days for insurer to send claim
forms to insured. 90 days for insured to file written proof of loss. Insurer must immediately make
claim payments upon receipt of written proof of loss.
Total Disability - Answers✔accident or sickness that prevents the insured from working.
Own occupation - Answers✔Inability to perform occupation as listed on application.
Any occupation - Answers✔Inability to perform regular duties of any occupation.
Presumptive Disability - Answers✔Automatic qualification for total disability if any of the
following conditions are met: loss of use of any two limbs, total loss of eyesight, total loss of
speech or total loss of hearing.
Partial Disability - Answers✔Employee returns to work in a limited capacity. Benefit is 50% of
the amount of total disability. Normally paid for a short period of time, 3-6 months. Benefit
amount paid is proportionate to the employees percent of time off work.
Residual Disability - Answers✔Employee returns to work insured cannot earn as much as before
being disabled. Benefit amount paid is proportionate to the employee's percent of earnings lost.
Recurrent Disability - Answers✔Employee returns to work, but suffers a relapse. If the relapse is
within a certain period of time, the relapse will be considered a continuation of the same
disability. NO additional elimination period.
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ALL RIGHTS RESERVED.
Oklahoma Life, Health and Accident
Insurance License Exam (Health Only) Study
Guide.
Grace Period - Answers✔Period of time the policy remains in force after the premium is past
due. 7 days grace period if premium is collected weekly. 10 days grace period if premium is
collected monthly. 31 days grace period if premium is collected any other premium frequency.
Upon the date of reinstatement: - Answers✔Coverage for accidents is immediate. Coverage for
sickness begins 10 days after the policy reinstatement.
Time Frame of Loss - Answers✔20 days to notify insurer. 15 days for insurer to send claim
forms to insured. 90 days for insured to file written proof of loss. Insurer must immediately make
claim payments upon receipt of written proof of loss.
Total Disability - Answers✔accident or sickness that prevents the insured from working.
Own occupation - Answers✔Inability to perform occupation as listed on application.
Any occupation - Answers✔Inability to perform regular duties of any occupation.
Presumptive Disability - Answers✔Automatic qualification for total disability if any of the
following conditions are met: loss of use of any two limbs, total loss of eyesight, total loss of
speech or total loss of hearing.
Partial Disability - Answers✔Employee returns to work in a limited capacity. Benefit is 50% of
the amount of total disability. Normally paid for a short period of time, 3-6 months. Benefit
amount paid is proportionate to the employees percent of time off work.
Residual Disability - Answers✔Employee returns to work insured cannot earn as much as before
being disabled. Benefit amount paid is proportionate to the employee's percent of earnings lost.
Recurrent Disability - Answers✔Employee returns to work, but suffers a relapse. If the relapse is
within a certain period of time, the relapse will be considered a continuation of the same
disability. NO additional elimination period.
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