Under Florida law, which of the following provisions is NOT required in a Medicare Supplement policy? Suitability form Guaranteed issue Free-look period of 30 days Limitation on pre-existing conditions for up to 12 months
Which of the following is covered under Medicare Part D?
Answer D is correct. Medicare Parts A & B cover Doctors and Hospitals, Part D covers Prescriptions, Part A covers Inpatient Care (Hospital). There is No Pain and Suffering covered at all. All 12 Medicare supplement or (Medigap) policies are required to be standardized.
What do I need to know about Medicare supplement insurance?
The insurer must provide a Buyer's Guide and Outline of Coverage at time of application. Medicare Supplement Insurance must meet certain minimum benefit standards in order to be offered to the general public. Those standards include all of the following, except:
Is Medicare Part a deductible a core benefit?
The Part A Deductible is not a core benefit, but is included in all Medicare supplement policies except for A, which includes only the core benefits. A) applicants face amount of life insurance. B) applicants work history. C) applicants political affiliation. D) whether or not an individual can perform activities of daily living.
What does part a of Medicare cover?
Part A covers inpatient hospital care, skilled nursing facility care, home health care, and hospice care. It does not cover physicians, neither inpatient or outpatient. Part B of Medicare covers most physician, surgeon and other doctor's services. Which of the following correctly describes Medicaid?
Which of the following is not a required provision in group life policies?
Which provision is NOT a requirement in a group life policy? An AD&D provision is not required in a group life policy. The correct answer is "the entire cost of the plan is paid for by the employer". When an employer provides noncontributory group term life insurance, the employer pays the entire cost of the plan.
Which of these is considered a mandatory provision?
Which of these is considered a mandatory provision? "Payment of Claims". Payment of Claims is considered a mandatory provision and directs where the claim benefits will go.
Why does Florida have state laws regulating Medicare supplement insurance quizlet?
Why does Florida have state laws regulating Medicare Supplement Insurance? the NAIC model with regard to the federal standard Medigap forms. State laws are introduced for enforcement purposes, as states cannot enforce and prosecute federal laws, only state laws.
Which of the following is a standard provision of the conversion privileges in a group life policy?
Which of the following is a standard provision of the conversion privileges in a Group Life policy? (Correct.) Conversion at regular rates on an attained-age basis without a medical exam is a standard provision for conversion privileges in Group Life policies.
Which of the following is not mandatory under the Uniform Provisions law as applied?
#17. Which of the following is NOT mandatory under the Uniform Provisions Law as applied to accident and health policies? Change of Occupation is an optional provision.
Which of the following is not a mandatory uniform provision of an accident and health policy?
Which of the following is not a Mandatory Uniform Provision of an Accident and Health policy? The other choices are Mandatory Uniform Provisions. Waiver of Premium is a provision that may or may not be included.
Which of the following must be included in a Medicare supplement policies outline of coverage?
All Medicare supplement policies must provide certain core benefits, including coverage for Medicare Part A-eligible hospital expenses not covered by Medicare from the 61st day through the 90th day in any Medicare benefit period, the coinsurance amount of Medicare Part B-eligible expenses, and coverage under Medicare ...
Which of the following situations does not apply to Florida replacement rule?
Which of the following situations does NOT apply to the Florida Replacement Rule? Florida's Replacement Rule applies to all of these situations EXCEPT "An existing policyholder purchases an additional policy from the same insurer".
Which of the following situations are not subject to Florida insurance laws?
Which of the following situations are NOT subject to Florida life insurance laws? Florida life insurance laws apply to all of these situations EXCEPT "Insurance companies' day-to-day operations". The correct answer is "they are insured by an authorized insurer".
Which of these policies may not have the automatic premium loan provision attached to it?
The automatic premium loan is available on whole life insurance policies. Because universal life policies will always deduct policy expenses from available cash value, they do not have an automatic premium loan feature.
What is a conversion provision?
The conversion privilege provision allows an employee that participates in a group plan to convert their group life insurance policy into an individual life insurance policy with little hassle, without having to go through another approval process or a medical exam.
Which of the following is not a requirement for a terminated employee that has exercised the conversion privilege?
Which of the following is NOT a requirement for a terminated employee that has exercised the conversion privilege? Provide Proof of insurability. A terminating employee who wants to exercise the conversion privilege must meet all of these requirements EXCEPT supply evidence of insurability.
What is a required provision in health insurance policies?
The provisions that cover the responsibilities of the policyholder include requirements that they notify the insurer of a claim within 20 days of a loss, provide proof of the extent of that loss, and update beneficiary information when changes take place.
Which of the following may be an optional provision under the Uniform Provisions law?
Which of the following may be an optional provision under the Uniform Provisions Law? The change of occupation provision is an optional provision.
What are optional uniform provisions?
Terms in this set (11) Optional Uniform Provisions. These provisions are included at the insurer's option; however, if used they must conform to the state's insurance code. These provisions are designed to protect the insurer. Change of Occupation.
Which provision states that the insurance company must pay claims immediately?
L&H 12QuestionAnswerWhich provision states that the insurance company must pay claims immediately?Time of Payment of Claims (a Mandatory Uniform Provision) stipulates that claims are to be paid immediately upon written proof of loss.9 more rows
What is it called when you convince a prospective insured to buy an insurance policy based on exaggerations?
Convincing a prospective insured to buy an insurance policy based on exaggerations is called. misrepresentation. Upon reaching the limiting age, a handicapped child can extend their health insurance coverage as a dependent. only if the child is incapable of employment and chiefly dependent on the policyowner.
How long does a Florida health insurance policy have to be in a viatical settlement?
In Florida, monthly-premium health insurance policies must provide a grace period of at least. 10 days.
What is an insurance company in Florida called?
the insurance company. In Florida, an insurer licensed to conduct business in Florida, but domiciled in New Jersey, is called a (n) foreign company. When replacing or exchanging an annuity, the agent must disclose to the annuitant. the possible tax ramifications as a result of the transaction.
What is master group health policy in Florida?
projection of the policy's future costs. In Florida, the underwriting and issuance of a master group health policy requires that all employees. are eligible to participate, regardless of their individual health history.
Do small group life insurance plans require evidence of insurability?
small group benefit plans are to be issued on "guarantee-issue" basis. According to Florida law, group life insurance conversion privileges must NOT . require evidence of insurability. According to Florida's rules on disclosure, a life insurance applicant is expected to be provided with. a Buyer's Guide and Policy Summary.
What is the act of an insurance company publishing misleading information about its policy's provisions called?
The act of an insurance company publishing misleading information about its policy’s provisions is called. false advertising.
What is the Florida law regarding newborn coverage?
Florida requires that coverage for newborns begins "from the moment of birth" and continues for. In Florida, when agents recommend changes be made for existing coverage, the agent must follow established procedures.
How often do you have to notify a variable annuity policy owner in Florida?
Under Florida law, a variable annuity policyowner must be notified of the accumulated value of the contract. once each year. As a condition for a loan, a bank requires the borrower to purchase credit insurance from a specific company.
How long is the grace period for rebating health insurance in Florida?
offered to all insureds in the same actuarial class. In Florida, monthly-premium health insurance policies must provide a grace period of at least. 10 days.
How old was W when he purchased a life insurance policy?
Florida’s 14-day free-look period for life insurance policies begins at the. W gave W’s age as 50 when W purchased a Life policy. At the time of W’s death seven years later, the company discovered W’s true age at issue had been 59.
Does Group Life have a conversion privilege in Florida?
Projection of the policy’s future costs. Group Life policies in Florida are required to contain a conversion privilege that allows for conversion. to an individual policy for a stated period of time. When replacing or exchanging an annuity, the agent must disclose to the annuitant.
What is an accident and health policy?
An Accident and Health policy is required to provide Essential Benefits without annual and lifetime limits when purchased individually or with group coverage through. the Federal Marketplace. An insurance agent that solicits a Medicare Supplement policy must disclose to the applicant that the agent.
When is the continuation education requirement extended?
If an agent has not completed the continuation education requirement by November 30, a final opportunity to complete this requirement is extended to. December 31 every even year. During a sales transaction, which of the following forms must be completed by an agent if the customer has existing insurance coverage.