2025/2026LifeandHealthInsuranceKeyConcepts&PracticeExam:ComprehensiveReviewforLicensing

1



2025/
2026LifeandHealthInsurance
KeyConcept
s&Pr acti
ceExam:
Comprehens
iveReviewforLicensing



Purpos
eofheal
thi
nsur
ance-ANSWER✓✓Covermedi
cal
expenses


Majormedi
cal
pol
i
cies-ANSWER✓✓Hi
ghmax
imum
benefi
ts


Coi
nsur
ance-ANSWER✓✓I
nsur
edandi
nsur
ers
har
ecos
t


Copayment-ANSWER✓✓As
mal
lf
ixed-
dol
l
aramount


HMOs-ANSWER✓✓Emphas
izepr
event
ivecar
e


PPOs-ANSWER✓✓All
owacces
stoanypr
ovi
der
,
di
scount
sin-
net
wor
k

,2




Acci
dent
-onl
ypol
i
cies-ANSWER✓✓Coveri
nj
ury


Di
sabi
l
it
yincome-ANSWER✓✓Repl
acesl
osti
ncome


El
i
minat
ionper
iod-ANSWER✓✓Wai
ti
ngper
iod


Medi
car
ePar
tA-ANSWER✓✓Cover
shos
pit
ali
zat
ion


Medi
car
ePar
tB-ANSWER✓✓Cover
sout
pat
ients
ervi
ces


Medi
cai
d-ANSWER✓✓I
sforl
ow-
incomei
ndi
vi
dual
s


LTC-ANSWER✓✓Requi
resi
nabi
l
it
ytoper
for
m 2ADLs


ADL-ANSWER✓✓I
ncl
udesbat
hing


Li
mit
edpol
i
cies-ANSWER✓✓I
ncl
udecancerpol
i
cies

,3




Medi
calexpensei
nsur
ance-ANSWER✓✓Cover
shos
pit
al
anddoct
orbil
ls


Deduct
ibl
e-ANSWER✓✓Amountt
hei
nsur
edpaysf
ir
st


Preexi
st
ingcondi
ti
on-ANSWER✓✓Ref
erst
ocondi
ti
on
befor
ecoveragebegi
ns


Guaranteedr
enewabl
e-ANSWER✓✓Al
l
owspr
emi
um
i
ncreasesbyclas
s


Noncancel
abl
e-ANSWER✓✓Meansi
nsur
ercannot
cancel
orrai
sepr
emi
ums


AD&D-ANSWER✓✓Paysf
oracci
dent
ali
nj
uryanddeat
h


Ti
meofpaymentofcl
aims-ANSWER✓✓Requi
res
paymentatl
eas
tmonthl
y

, 4


Graceper
iodf
orheal
thi
nsur
ance-ANSWER✓✓I
s
7/
10/31days


Credi
tabl
ecover
age-ANSWER✓✓I
ncl
udesheal
th
i
nsurance


Coor
dinat
ionofbenef
it
s-ANSWER✓✓Appl
i
est
ogr
oup
heal
thpol
i
cies


Gat
ekeeper-ANSWER✓✓Cont
rol
sHMOr
efer
ral
s


Vi
si
oncar
e-ANSWER✓✓Cover
seyeex
ams


Medi
gappol
i
cies-ANSWER✓✓Mus
tbes
tandar
diz
ed


Fr
ee-
lookf
orMedi
gapi
nVA-ANSWER✓✓I
s30days


LTCel
i
minat
ionper
iods-ANSWER✓✓Ar
e30-
180days