Xcel pre final exam - Study guides, Class notes & Summaries

An insured has a stop-loss limit of $5,000 and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. How much will the insured pay? Ans $5,000 Which type of plan would be the most appropriate for an individual on Medicare and concerned that Medicare will NOT pay for charges exceeding the approved amount? Ans Medicare supplement Plan F When can a group health policy renewal be denied according to the Health Insurance Portability and Accountability Act (HIPAA)? Ans when contrib...

Xcel Final Exam Comprehensive of Life and Health Insurance all Possible Questions and Answers Upated Score A+. The focus of major medical insurance is providing coverage for Ans medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? Ans $200 because this policy has a zero deductible, the insures is only responsible for the 20% coin...

Sole proprietors are permitted tax deductions for health costs paid from their earnings in the amount of A. costs that exceed 7 1/2 % of AGI B. costs that exceed 10% of AGI C. 100% of costs D. no deduction permitted - ANSWERS100% of costs The purpose of the Coordination of Benefits provision in group accident and health plans is to A. avoid overpayment of claims B. reduce out-of-pocket costs C. reduce adverse selection D. lower the cost of premiums - ANSWERSavoid overpayment of claims...

Xcel Final Exam Comprehensive of Life and Health Insurance all Possible Questions and Answers With complete Solution Graded A+. Typically, Long-Term Disability benefits are coordinated with which benefit plan? Ans Social Security The focus of major medical insurance is providing coverage for Ans medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured...

Final Exam XCEL VA 1. The free-look period for a new Medicare Supplement policy is: ️ 30 days 2. Al surrenders his life insurance policy for its cash value. The total of the premiums paid into the policy minus total dividends received in cash or used to offset premiums is referred to as the: ️ Cost basis 3. All of these are duties that a producer may be required to perform when delivering an insurance policy EXCEPT: ️ Leave a conditional receipt with client 4. Which...

Xcel Final Exam Questions and Answers With complete Solutions Latest 2024 (Graded A+) The focus of major medical insurance is providing coverage for Ans medical and hospitalization expenses An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? Ans $200 because this policy has a zero deductible, the insures is only responsible for the 20% coinsurance on this claim, or ...

Xcel Final Exam Questions and complete solutions Typically, Long-Term Disability benefits are coordinated with which benefit plan? The focus of major medical insurance is providing coverage for An insured under a Major Medical expense plan with a zero deductible and 80/20 coinsurance provision files a $1,000 claim. How much of this claim is the insured responsible for? An insured has a stop-loss limit of $5,000 and an 80/20 coinsurance. The insured incurs $25,000 of covered losses. Ho...

XCEL _CALIFORNIA PRE-LICENSING EDUCATION - LIFE, ACCIDENT AND HEALTH INSURANCE FINAL EXAM QUESTIONS & CORRECT ANSWERS 100% VERIFIED Which of the following is NOT a required provision in an accident and health insurance policy? - ANSWER change of occupation What type of changes can be made to a guaranteed renewable health insurance policy? - ANSWER The premium rates of the policyowner Under a health insurance policy, the provision that states the kind of benefits provided and the ...

Sole proprietors are permitted tax deductions for health costs paid from their earnings in the amount of A. costs that exceed 7 1/2 % of AGI B. costs that exceed 10% of AGI C. 100% of costs D. no deduction permitted - ANSWER-100% of costs The purpose of the Coordination of Benefits provision in group accident and health plans is to A. avoid overpayment of claims B. reduce out-of-pocket costs C. reduce adverse selection D. lower the cost of premiums - ANSWER-avoid overpayment of claims...