Marketing, underwriting and policy delivery
True or False: anyone may gain access to MIB information
False. Access is only available to approved company representatives/underwriters
Death or dismemberment must occur on an AD&D policy within ____ days for benefits to be paid.
90
HIPAA law describes a preexisting condition as one that was treated within __ months prior to group enrollment.
6
What is meant by Medicare approved amount?
It represents the amount of the bill Medicare agrees to pay or reimburse
The least expensive premium mode is _______, while the most expensive mode is _________.
annual, monthly
When does the “Notice to the Applicant” regarding the Fair Credit Reporting Act need to be given?
At the time of application
The dismemberment benefit on an AD&D policy is equal to _____% of the death benefit
50
If a person is doubly covered by both Medicare and a group plan, which plan is normally considered primary?
The group plan
Doctor and surgeon fees
Describe coordination of benefits.
When an individuals with more than one benefit plan combine their benefits coverage payment without exceeding actual bill
What does the Fair Credit Reporting Act allow?
It gives a consumer or applicant the right to dispute credit reporting information
What is included in earned income for tax purposes?
Commissions, bonus, and salary
List some examples of limited policies
Hospital only, accidental death, travel accident, cancer only, credit, prescription, and vision
Medicare Supplement plans must be sold on a ___________ renewable basis
Who pays for the cost of a medical exam?
the insurer
What is a declined risk?
What is the definition of a permanent disability?
A disability expected to last a lifetime
True or False: Medical benefits for pregnancy-related conditions are paid differently than other medical conditions.
False. Benefits for pregnancy-related conditions are paid in the same manner as other medical conditions
What type of nursing care does Medicare Part A provide?
Skilled nursing for up to 100 days
What would constitute proof of loss?
Medical bills, doctor statements, and completed claim forms
An applicant’s health history is usually found in ____________ of a life insurance policy.
Section II
BOE premiums are ______________ to the owner and benefits received are __________.
tax-deductible, taxable
After a deductible has been satisfied, the insured may also be required to share the expenses by making a ____________.
copayment
When must an LTC Outline of Coverage be provided to an applicant?
At or before the time of application
Which clause is a summary of the entire contract and is usually the first or face page of the contract?
The Insuring Clause