Chapter 10 Individual Health Insurance Policies Flashcards
How will changing once occupation to be more hazardous affect health insurance policy enforced?
Claim benefits will be reduced to what the premium would have bought for more hazardous occupation
What health policy provisions defines the insurered duty to provide the insurer with reasonable notice in the event of loss?
Notice of claim
Who decides which optional provision would be included in the health policy?
The insurance company
If the insurer pay the monthly premium for health insurance, how long with the Grace. Be on the policy.
10 days
What does the free look. Allow the insurer to do.
Return the policy for the full value of the premium within a specific period of time usually 10 days
According to the reinstatement provisions once a lapse policy is reinstated how soon will coverage be for accident?
Immediately immediately
What health policy provision prevents the insurer from bringing a lawsuit against the insurance company for at least 60 days after proof of loss is provided?
Legal action
What will happen to health insurance policy if the premium has not been paid by the end of the grace period?
It will be canceled
When can an irrevocable beneficiary be changed?
With the written consent of the beneficiary
Who will determine the length of a grace period in the health insurance policy?
The mode of the premium payment
Under an individual disability income policy, the benefit must be paid on at least what schedule?
Monthly
If a health insurance policy has 31 day grace. What does that mean?
The policy remains in effect or 31 days after the premium is due and not paid
What health policy renewability provision allows the insurer to terminate coverage for any reason and to increase the premium for any class of insured?
Optionally renewable
What health policy provision allows the insurer to non-renew health coverage if certain events occur?
Conditionally renewable
What health policy provision allows the insure a period of time to examine the policy and determine whether or not to keep it?
Free look period
Who pays the expense for an autopsy under the physical examination and autopsy provision?
The insurer
What health policy provision states to whom the claim benefit must be paid?
payment of claims
What renewability provision will most likely appear on the travel accident policy?
Period of time
What is the name of the act by the insured to voluntarily give up insurance?
Cancellation
The insured on a health policy mistakes, his age on the insurance application if the misrepresentation is discover what will happen to the policy?
The benefit of amount payable under the policy will be adjusted to the insurer, correct age
What health policy provisions describe being assured right to cancel coverage?
Renewability provision
According to the time limit on certain defenses, provision, and health insurance policies, when can an insurer contest fraudulent miss statements on the health insurance application?
Anytime while the policy is in force
