PSI LIFE ACCIDENT and HEALTH PRACTICE 2024 well updated EXAM 100% A+ GRADED
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PSI LIFE ACCIDENT and HEALTH PRACTICE
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PSI LIFE ACCIDENT And HEALTH PRACTICE
PSI LIFE ACCIDENT and HEALTH PRACTICE 2024 well updated EXAM 100% A+ GRADED
Which of the following coverage types pays a monthly cash benefit following the elimination period for total disability due to accident or sickness? - CORRECT ANSWERDisability income insurance
Which of the following...
PSI LIFE ACCIDENT and HEALTH PRACTICE
2024 well updated EXAM 100% A+ GRADED
Which of the following coverage types pays a monthly cash benefit following the
elimination period for total disability due to accident or sickness? - CORRECT
ANSWERDisability income insurance
Which of the following is TRUE of an equity-indexed annuity? - CORRECT ANSWERIt
has a guaranteed minimum interest rate.
Compared to basic hospital, medical and surgical policies, which type of insurance
provides broader coverage, fewer gaps, higher individual benefits, and higher policy
maximums? - CORRECT ANSWERMajor medical insurance.
Which of the following is the most common method to supplement Medicare coverage?
- CORRECT ANSWERCoverage offered by private insurers.
Which of the following is defined as the dollar amount beyond which the insured no
longer participates in payment of medical expenses? - CORRECT ANSWERStop Loss
Limit
A basic vision care package includes all of the following EXCEPT? - CORRECT
ANSWERSafety glasses
In which of the following does a covered employee agree to a reduction in
compensation so the amount can be used to cover medical expenses? - CORRECT
ANSWERFlexible Spending Account (FSA)
Current assumption whole life policies are sensitive to which of the following? -
CORRECT ANSWERInterest rates
A group conversion option may be used in all the following instances EXCEPT? -
CORRECT ANSWERA life-changing event, such as marriage, divorce, or childbirth.
Why is relying solely on employer group life insurance generally considered inadequate
for most individual's needs? - CORRECT ANSWERIt is financially insufficient to cover
end of life expenses.
In a home healthcare benefit, all of the following are eligible expenses EXCEPT? -
CORRECT ANSWERBlood Transfusions
, Which of the following amends the Social Security Act to make Medicare secondary to
group health plans? - CORRECT ANSWERTEFRA
All of the following are requirements to qualify for Social Security disability benefits
EXCEPT when - CORRECT ANSWERUnable to work in occupation on which the
worker was trained or educated.
How long after being entitled to disability benefits will an individual be eligible to receive
Medicare benefits? - CORRECT ANSWER2 years
Which of the following is TRUE for a flexible premium annuity? - CORRECT
ANSWERThe purchaser has the option to vary the amount of each premium payment
falling between a minimum and maximum amount.
All of the following are characteristics of COBRA EXCEPT? - CORRECT
ANSWERChange in medical privacy procedures.
Which is the primary purpose of Health Reimbursement Accounts (HFAs)? - CORRECT
ANSWERTo assist covered employees with the payment of medical expenses on a high
deductible plan funded through pre-tax.
Which type of annuity covers two or more annuitants and provides monthly income only
until the first annuitant dies? - CORRECT ANSWERJoint Life Annuity
All of the following are characteristics of variable whole life EXCEPT? - CORRECT
ANSWERThere is no guaranteed minimum death benefit.
Which problem was Universal Life insurance designed to address? - CORRECT
ANSWERLow interest rates during periods of high inflation.
Which of the following is covered by a dread disease policy? - CORRECT
ANSWERIllnesses that do not occur frequently but incur significant costs when they do
occur.
Under the misstatement of age or gender provision, what happens if it is determined at
death that the insured's age or gender was misstated on a life insurance policy
application? - CORRECT ANSWERBenefits are adjusted to an amount that the
premium would have purchased at the correct age or gender.
Which of the following must be given to the insurer within 20 days after occurrence or
commencement of any loss covered by the policy, or as thereafter as is reasonably
possible? - CORRECT ANSWERNotice of claim.
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