Nc accident and health - Study guides, Class notes & Summaries

Insurance - ️️a plan of spreading the risk of possible loss over a large number of people Representation - ️️information believed to be true to the best of one's knowledge Agents - ️️Representatives of the INSURER - represents single insurer Brokers - ️️Representatives of the INSURED - represents multiple firms Unilateral Contract - ️️Type of contract that is an exchange of an act for a promise - i.e. - the INSURED may discontinue coverage at any time and the INS...

Which of these statements concerning an individual Disability Income policy is TRUE? - Normally includes an Elimination period Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that it is part of the contract? - Entire contract M is insured under a basic Hospital/Surgical Expense policy. A physician performs surgery on M. What determines the claim M is eligible for? - Determined by the terms of the policy An ins...

NC Accident and Health Final Exam Prep Complete Questions And Answers |Verified

NC Accident and Health Exam Questions with 100% Correct Answers | Latest Update 2024 | Verified

The period in which illness-related disabilities are excluded from coverage. - Answer Probationary period An approach in which a certain amount of "points" are assigned to a procedure based on an amount relative to a maximum cost for similar procedures in that geographic area. - Answer Relative value approach Which type of policy allows the policyowner to renew the policy to a stated age without evidence of insurability, but allows for the insurance company to raise the premium on th...

Insurance - a plan of spreading the risk of possible loss over a large number of people Representation - information believed to be true to the best of one's knowledge Agents - Representatives of the INSURER - represents single insurer Brokers - Representatives of the INSURED - represents multiple firms Unilateral Contract - Type of contract that is an exchange of an act for a promise - i.e. - the INSURED may discontinue coverage at any time and the INSURER can not enforce the conti...

Which of these statements concerning an individual Disability Income policy is TRUE? - ANSWER-Normally includes an Elimination period Which health policy clause stipulates that an insurance company must attach a copy of the application to the policy to ensure that it is part of the contract? - ANSWER-Entire contract M is insured under a basic Hospital/Surgical Expense policy. A physician performs surgery on M. What determines the claim M is eligible for? - ANSWER-Determined by the terms of...

NC Accident and Health Final Exam Prep

NC ACCIDENT AND HEALTH EXAM, QUESTIONS WITH ANSWERS.

Insurance - Answer- a plan of spreading the risk of possible loss over a large number of people Representation - Answer- information believed to be true to the best of one's knowledge Agents - Answer- Representatives of the INSURER - represents single insurer Brokers - Answer- Representatives of the INSURED - represents multiple firms Unilateral Contract - Answer- Type of contract that is an exchange of an act for a promise - i.e. - the INSURED may discontinue coverage at any time a...