Life Insurance Exam 20 Questions And Answers Graded A+ Q & A

Which Long Term Care insurance statement is true? {Ans: Pre-existing conditions must be covered after the coverage has been in force for six months}What kind of life insurance product covers children under their parent's policy? {Ans: Term Rider}T files a claim on his Accident and Health policy after being treated for an illness. The insurance company believes that T misrepresented his actual health on the initial insurance application and is, therefore, disputing the claim's validity. The provision that limits the time period during which the company may dispute a claim's validity is called {Ans: Time Limit on Certain Defenses}Taking receipt of premiums and holding them for the insurance company is an example of {Ans: Fiduciary}An individual who has a Major Medical policy with a $5,000 deductible and an 80/20 coinsurance clause. How much will the INSURED have to pay if a total of $15,000 in covered medical expenses are incurred? {Ans: 5,000 + 20%= $7,000}Which of the following benefits is NOT required under a group health plan for drug and alcohol treatment? {Ans: Treatment to and from a treatment facility}