Life & Health Insurance Terms Quiz

How soon is the insured required to give notice of claim?

If forms are not furnished, what should the insured do?

Premium payments for personally-owned disability income policies are tax deductible.

How long after a policy's effective date may an insurer cancel the policy?

Under an individual disability policy, what is the minimum schedule of time in which claim payments must be made to an insured?

What is the name of the statement that indicates a policy is limited?

Which health insurance provision describes the insured's right to cancel coverage?

Which groups may be eligible for benefits under the Healthy New York Program?

How soon following a covered loss must an insured submit written proof to the insurance company?

In a life settlement transaction, how many days does the owner have to rescind the contract after receipt of the proceeds?

Which of the following is not covered under Basic Hospital Expense coverage?

Optional policy provisions can be changed by an insurer, as long as the changes do not adversely affect the policyholder.

Benefits from Business Overhead Expense (BOE) policies are usually limited to 6 months.

What is the difference between the Medicare approved amount for a service or supply and the actual charge?

What is the amount a physician or supplier bills for a particular service or supply?

What types of services may NOT be provided under long-term care's assisted living care?

A policy that covers medical costs related to a specific condition is called what?

In a replacement situation, what must be considered?

The Patient Protection and Affordable Care Act mandates that insurers provide coverage for adult children up to the age of?

Every authorized domestic insurer will be examined at least how often?

What type of medical expense policy establishes benefits based on prevailing charges?

If Cassie accumulates medical bills from a burn but is not classified as 'disabled', which coverage would help?

How are the three basic charges for medical expense insurance grouped?

Which provision concerns the insured's duty to provide the insurer with notice of a loss?

Health insurance could provide payments for loss of income.

Will a group health plan pay for an employee injured in a car wreck while working?

A reinstated policy provides immediate coverage for illness.

Are premium payments for personally-owned disability income policies tax deductible?

What is the maximum amount of co-insurance in New York's major medical plans?

Which employment would be covered under the NYS Disability Benefit Law?

Medicare Advantage is known as?

Every insurer must file a fraud prevention plan within how many days?

Who is entitled to mental health benefits through Timothy's Law?

Which of the following does NOT describe a principal goal of a Preferred Provider Organization?

Regarding long-term care coverage, as the elimination period gets shorter, what happens to the premium?

How much of a given employee's income would be covered under a short-term disability plan?

Do benefits stop at the annuitant's death with an annuity certain?

What is a Payor Benefit Rider?

What does a Guaranteed Insurability Rider allow the policyowner to do?

What is the purpose of a Cost of Living Rider?

What does an Accidental Death Rider provide?

When does the insurer pay the death benefit in a survivorship life policy?

What type of annuity does K have if he begins receiving payments 2 months after purchasing a $90,000 annuity?

After how many days can a ruling from a civil penalty hearing be enforced as a judgment without court proceedings?

What is a Fixed Settlement Option?

What is true regarding the cash value in a Universal life policy?

When is a certificate of appointment valid until?

What settlement option should a policy owner choose if they want to pay a portion of the proceeds annually to their spouse upon their death?

What is the penalty tax for nonqualified distributions to a health savings account?

What can contribute proof of death for insurance benefits payment?

Under the uniform required provisions, proof of loss under a health insurance policy should normally be filed within how many days?

Which provision must be included on the first page of a Medicare supplement policy that states the insurer's right to change premium amounts?

If an insured has a $500 deductible and coinsurance of 80/20, how much would the insurer pay for $4,000 in medical expenses?

To sign up for a Medicare prescription drug plan, individuals must first be enrolled in which part?

What is the dividend option where the policy-owner uses dividends to purchase a term policy for one year called?

What is it called when insurers negotiate contracts with providers to provide services at a favorable cost?

What best describes the 'first-dollar coverage' principle in basic medical insurance?

What are the three basic types of coverage?

What happens if a policy provision conflicts with state statutes?

What is a feature of a variable annuity?

What is true regarding installments for a fixed period annuity settlement option?

What settlement option should a client consider if they plan to retire at age 50 and want income until social security and other funds become available?

What would be true if John receives benefits from his disability income policy after suffering an accident on the job?

Do benefits stop at the annuitant's death with an annuity certain?

What does 'life contingency' mean?

How would a Cross Purchase plan work between two equal partners worth $150,000?

Is there a limit on when benefits are paid in a Business Overhead Expense (BOE) plan?

What decreases in a decreasing term policy?

What limits health insurance coverage even though sickness is a peril covered?

How long does an insurer have to comply with a consumer's request for information on an Investigative Consumer Report?

Which insurance principle states that an insured may only receive benefits for the amount lost?

How many years must life settlement brokers keep records of commission and compensation disclosures?

Which benefit would cover at least a portion of Cassie's medical expenses after she burns her hand?

Which of the following is not covered under Basic Hospital Expense coverage?

Which document helps ensure that full and fair disclosure is provided to the recipient of a policy?

How many days of inpatient care for treatment of mental disorders must be provided under Timothy's Law?

When will Medicare cover nursing home care?

What determines the extent of benefits offered under group disability income insurance?

What are the characteristics of a group long-term disability plan?

What is the maximum amount of coinsurance in New York's major medical plans?

Under SIMPLE plans, the employer makes a matching contribution equal to what percent of the employee's annual wages?

What type of review process do employers use to evaluate the effectiveness of the utilization review process?

What does naming beneficiaries as a class mean?

How does the premium change in a decreasing term policy?

What does the guarantee of insurability option in long-term care policies allow?

What is a 1035 Exchange?

How long do benefit periods for individual short-term disability policies usually continue?

Which nonforfeiture option provides coverage for the longest period of time?

Who may share in the commission from the sale of a life insurance policy?

What types of services may NOT be provided under long-term care's assisted living care?

What is reinsurance?

Which life insurance settlement option guarantees payments for the lifetime of the recipient?

If a court ordered payment for a loss that was not covered in the policy, what legal concept does this exemplify?

What type of annuity does an individual have if the income payments begin 2 years after purchase?

What is the purpose of the New York State Partnership for LTC?

What is an example of a peril?

Which Medicare supplement plans would be available to a reasonably healthy 91-year-old female?

In which situations can a policy-owner be allowed to sell a life insurance policy for a life settlement contract?

What does the Life Income Joint and Survivor settlement option guarantee?

What is true for both equity indexed annuities and fixed annuities?