Chapter 11 Accident, Health, Quiz

which of these circumstances is a business disability buy-sell policy designed to help in the sale of a business

S is employed by a large corporation that provides group health coverage for its employees and their dependents. If S dies, the company must allow his surviving spouse and dependents to continue their group health coverage for a maximum of how many months under COBRA regulations?

J has an accidental death and dismemberment policy with a principal sum of $50,000. While trimming the hedges, J cuts off one of his fingers. What is the MAXIMUM J will receive from his policy?

which of the following would be a likely candidate for disability income insurance on a key employee?

which contract permits the remaining partners to buy-out the interest of a disabled business partner?

a policy owner would like to change the beneficiary on accidental death and dismemberment insurance policy and make the change permanent. which type of designation would fulfill this need?

how would a contingent beneficiary receive the policy proceeds in accidental death and dismemberment policy

which of the following statements does NOT accurately describe the tax treatment of premiums and benefits of individual Accident and health insurance?

common exclusions to the continuation of group coverage include

many small business owners worry how their business would survive financially if the owner becomes disabled. the policy which best addresses this concern is

T is covered by two health insurance plans: a group plan through his employer and his spouses plan as a dependent. Under the model group coordination of benefits provision, when T files a claim, his employers plan is considered the

the difference between group insurance and blanket health policies is

which statement is true regarding a minor beneficiary?

an insured covered by AD&D insurance has just died. what will happen if the primary beneficiary had already died before the insured and contingent beneficiary?

B has a $100,000 AD&D policy that pays triple indemnity for common carrier death. if B is killed from an accident on a commercial flight, what will the policy pay B’s beneficiary?

what is issued to each employee of an employer health plan

which of the following is the reimbursement of benefits for the treatment of a beneficiary’s injuries caused by a third party?

which of the following statements is correct regarding an employer/employee group health plan

G is an accountant who has ten employees and is concerned about how the business would survive finanacially if G became disabled. the type of policy which BEST addresses this concern is

which mode of payment is NOT used by health insurance policies

the coordination of benefits provision

a business overhead expense policy

XYZ company pays the entire premium for its group health plan. the MINIMUM percentage of eligible employess that must be covered is

T is covered by an AD&D policy that has an irrevocable beneficiary. what action will the insurance company take if T requests a change of beneficiary

The consolidated budget reconciliation act (COBRA) give workers and their families whose employement has been terminated the right to

which of these types of coverage is best described as a short term medical policy

when an employee is required to pay a portion of the premium for an employer/employee group health plan, the employee is covered under which of the following plans

a policy owners rights are limited under which beneficiary designation

which type of policy would pay an employees salary if the employer was injured in a bicycle accident and out of work for six weeks

which type of policy pays benefits to a policyholder covered under a hospital expense policy

K is the insured and P is the sole beneficiary on a AD&D insurance policy. both are involved in a fatal accident where k dies before P. under the common disaster provision, which of these statements is true

all students attending a large university could be covered by

T and S are name co-primary beneficiaries on a $500,000 accidental death and dismemberment policy insuring their father. their monther was named the contingent beneficiary. 5 years later S dies of natural causes and the father is killed in a scuba accident shortly after. how much of the death benefit will the mother receive?

P is insured under a basic cancer plan. which of the following conditions would be covered under this plan