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CHAL.DZ
IL.ACDNT.HLTH TEST
Question | Answer |
---|---|
In health insurance insurable interest must exist at? | inception A! In health insurance, insurable interest must only exist at the time a policy first goes into force, known as inception |
Jo has a policy that requires that he meet certain conditions in order for the contract to be enforceable. J has a(an): | Unilateral Contract: When one party has to perform legally in a contract, it is a unilateral contract right. |
Guaranteed Insurability Rider allows the insured to buy more coverage at future dates without proving insurability, based on attained age rate. | ** Conditionally Renewable A Conditionally Renewable renewability right allows the insurer to decline renewal only based off of specific conditions that are defined in the policy |
Which policy rider would offer an insured the option to increase their benefits of the original policy? | Guaranteed Insurability Rider ** |
Jo has a major medical policy and was in a horrific car accident. After 4 months in the hospital K is released but is paralyzed from the neck down. Considering Jo's circumstances, what is the maximum time the insurer will require Proof of Loss? | Since Jo's loss is so catastrophic, proof of loss provision states that while forms should be sent back to the insurer within 90 days of the loss,*up to ONE YEAR* in the case where an insured is legally incapacitated |
G works for a company that only has 18 employees and receives group insurance. G has decided to look for a new job, but wants to convert her policy while she searches for a new job. How much time does G have to convert her policy? | 31 days: For groups that have less than 20 employees, the individual has 31 days to convert from a group to an individual policy. |