Individual Health Insurance Policy General Provisions

Question 1

What will determine the length of the grace period in s health insurance policy?

Answer 1

The mode of premium payment

Question 2

Who decides which optional provisions would be included in a health policy?

Answer 2

The insurance company

Question 3

What renewability provision will most likely appear on a travel accident policy?

Answer 3

Period of time

Question 4

What health policy provision states to whom the claim benefits must be paid?

Answer 4

Payment of claims

Question 5

What health policy renewability provision allows the insurer to terminate coverage for any reason and to increase the premiums for any class of insureds?

Answer 5

Optionally renewable

Question 6

According to the Reinstatement provision, once a lapsed policy is reinstated, how soon will coverage be available for accidents?

Answer 6

Immediately

Question 7

How will changing ones occupation to be more hazardous affect the health insurance policy in force?

Answer 7

Claim benefits will be reduced to what the premium would have bought for a more hazardous occupation

Question 8

What is the name of the act by the insured to voluntarily give up insurance?

Answer 8

Cancellation

Question 9

What health policy provision defines the insured’s duty to provide the insurer with reasonable notice in the event of a loss?

Answer 9

Notice of claim

Question 10

What will happen to a health insurance policy if the premium has not been paid by the end of the grace period?

Answer 10

The policy will be cancelled

Question 11

What does the free look period allow the insured to do?

Answer 11

Return the policy for a full refund of premium within a specified time period (usually 10 days)

Question 12

What health policy provision allows the insurer to nonrenew health coverage if certain events occur?

Answer 12

Conditionally renewable

Question 13

What health policy provision prevents the insured from bringing a lawsuit against the insurance company for at least 60 days after proof of loss is provided?

Answer 13

Legal actions

Question 14

If the insured pays a monthly premium for health insurance, how long would the grace period be on the policy?

Answer 14

10 days

Question 15

According to the Time Limit on Certain Defenses provision in health insurance policies, when can an insurer contest fraudulent misstatements on a health insurance application?

Answer 15

Any time while the policy is in force

Question 16

Who pays the expense for an autopsy under the physical examination and autopsy provision?

Answer 16

The insurer

Question 17

What health policy provision describes the insured’s right to cancel coverage?

Answer 17

Renewability provision

Question 18

What health policy provision allows the insured a period of time to examine the policy and determine whether or not to keep it?

Answer 18

Free look period

Question 19

If a health insurance policy has a 31 day grace period, what does that mean?

Answer 19

The policy remains in effect for the 31 days after the premium is due and not paid

Question 20

The insured on health policy misstated his age on the insurance application. If this misrepsentation is discovered, what will happen to the policy?

Answer 20

The benefit amount payable under the policy will be adjusted to the insured’s correct age

Question 21

When can an irrevocable beneficiary be changed?

Answer 21

With the written consent of the beneficiary

Question 22

Under an individual disability income policy, the benefits must be paid on at least what schedule?

Answer 22

Monthly