ILHI Indiana Life and Health Insurance Exam - Set 4 - Part 3
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 41: An applicant for individual health coverage completes the application truthfully and submits the initial premium along with it. The policy provision that identifies exactly what the applicant has given in exchange for the insurer's own promise carries which name?
Question 42: A producer shows a client two otherwise identical individual health policies. One is optionally renewable and carries a lower premium, while the other is noncancelable and costs noticeably more. Which principle explains the price difference between these renewability provisions?
Question 43: An employer replaces its group health carrier in July. Employees who already met part of the old plan's deductible and paid coinsurance under it are given credit toward the new plan's requirements. Which arrangement between the two plans is at work?
Question 44: An insurer reviews a block of individual health policies and decides not to continue several of them on the next policy anniversary, giving no reason beyond its own business judgment. Which renewability classification allows the insurer to act this way?
Question 45: A lapsed health policy owner submits a reinstatement application with the overdue premium, and the insurer issues a conditional receipt but then says nothing. Which of the following describes what happens if the insurer neither approves nor disapproves the application?
Question 46: A company hires a worker in March and tells her that she cannot join the group medical plan until she has completed three months of service. Which term names the interval she must serve before she becomes eligible to enroll?
Question 47: Some health coverage is written to last a stated span such as ninety days or one year, ends automatically on its expiration date, and gives the insured no right to continue it. Which renewability label describes that coverage?
Question 48: An insured under an individual health policy dies while a death benefit is still payable, and the contract names no beneficiary at all. Under the mandatory payment of claims provision, which of the following parties receives those proceeds?
Question 49: An underwriter reviewing a substandard applicant may charge an additional premium to cover the extra risk, or may instead attach a rider eliminating coverage for the troublesome condition. Which pair of terms names these two issuance alternatives for the insurer?
Question 50: An insurer discovers at claim time that a health policyowner understated her age on the application, so the premium charged was lower than it should have been. Under the misstatement of age provision, which of the following does the insurer do?
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