Sc Life, Accident And Health Study Guide Rated A+

Blue Plan {Ans: Generic term for those insurers (usually on a service rather than a reimbursement basis) who are authorized to use the designation "Blue Cross" or "Blue Shield"}Noncancelable {Ans: A contract for Health insurance that the that the insured has the right to continue in force by payment of premiums, as set forth in the contract, for a substantial period of time and that the insurer has no right to change any provision of the contract.}Concealment {Ans: The withholding of facts by an applicant for insurance, which materially affects an insurance risk or loss.}Beneficiary {Ans: A person who may become eligible to receive , or is receiving, benefits under an insurance plan, other than as a participant. The beneficiary is selected by the policy owner and may be changed at any time, unless "irrevocable".}Other Insurance {Ans: The existence if another contract covering the same interest or perils Although Life insurance policies pay in addition to each other, most Health insurance policies follow the Principle of Indemnity, which is reinforced by the Other insurance clause. You can not recover more that you actually lost. You can collect from both policies, but you may not be