Kentucky Health Insurance Exam Questions And Answers (2024 Update) Verified Solutions

In a disability income policy, there is a period during which no benefits will be paid for illness of any kind. This period usually does not apply to addicts, only to illness. The term that describes the interim is the A. elimination period B. benefit period C. waiver period D. probationary period {Ans: A. elimination period}What term describes a situation where a policy owner transfers a potion of his or her rights in an insurance policy to another party in order to secure a debt to that party? A. Collateral Assignment B. Absolute Assignment C. Transfer Assignment D. Accumulations Assignment {Ans: A. Collateral Assignment}Which of the following describes a multiple employer trust MET A. an association of employers cooperating to reduce medical costs through prevention B. an organization that handles investments for self-insured plan C. an insurance plan for employers with multiple branch offices or plant locations D. a legal entity that small employers may join to become eligible for group insurance {Ans: C. an insurance plan for employers with multiple branch offices or plant locations}When may agents change a policy or waive its provisions according to Required Provision 1? A. never B. with the approval and