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A/H Insurance Basics
AZ Accident and Health Insurance Basics
| Question | Answer |
|---|---|
| Define accidental bodily injury. | An unforeseen and unintended injury |
| Who is the field underwriter? | Agent |
| What are the three risk classifications? | Preferred, Standard, and Substandard |
| Which risk classification qualifies for lower premiums? | Preferred |
| What is a limited policy? | They only cover specific accidents or diseases |
| Define Hospital Indemnity. | Policy provides a specific amount on a daily, weekly or monthly basis while the insured is confined to the hospital. |
| What is an unfair trade practice? | Any statement that an insurer's policies are guaranteed by the existence of the Insurance Guaranty Association |
| Who's signature must be on the application? | Applicant and the agent |
| How is insurable interest proven? | Love and affection, economic or financial loss |
| How old must one be to purchase a life or disability policy? | 15 years old |
| Where do most Errors and Omissions take place? | The Sales interview and the policy delivery |
| What is the Medical Information Bureau (MIB)? | gives the underwriter a report as to whether or not an applicant is an adverse risk. |
| When does the insurer receive a Statement of Good Health? | when the agent collects the premium but the policy is not yet delivered. |
| Will pre-existing conditions be covered on a new policy if it was covered on the old one? | If not excluded, they may be subject to new waiting periods. |
Created by:
jgray2015
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