Insurance Exam - important time/dates UPDATED ACTUAL
Questions and CORRECT Answers
3 days Investigative reports cannot be made unless the consumer is advised about the
report within x of the date the report was requested
, 5 days The insurer had x to provide the consumer with the additional information about
the investigative report.
90 days Most policies will pay the accidental death benefit as long as the death is caused
by the accident and occurs within X
12 consecutive months Long term care policies must provide coverage for at least X in a setting other
than an acute care unit of a hospital
18 months Cobra coverage
36 months COBRA coverage time for dependents in events such as death of the employee,
divorce or legal separation
7 days Grace period for weekly premium policies
10 days Grace period for monthly premium policies
31 days Grace period for all other modes of premium payment
45 days Coverage is automatically reinstated if not refused within x?
10 days sickness is covered only after x amount of time after reinstatement
20 days Notice of claims is required within x of the loss
15 days Company must provide claims forms within x
90 days Proof of loss must be submitted within x of the loss
2 years Time limit on certain defenses provision - no misstatement can be used to deny a
claim after the policy has been in effect for how long
60 days, 3 years Insured must wait x, but no later than x after proof of loss before legal action can
be brought against the company.
2 years Relation of earnings to insurance - can only limit benefits of the insured based off
of their average income for the past x
$200/month Relation of earnings to insurance does not allow benefits to be reduced to less
than x/month
10 days from the date of delivery Free look period for health policies
Questions and CORRECT Answers
3 days Investigative reports cannot be made unless the consumer is advised about the
report within x of the date the report was requested
, 5 days The insurer had x to provide the consumer with the additional information about
the investigative report.
90 days Most policies will pay the accidental death benefit as long as the death is caused
by the accident and occurs within X
12 consecutive months Long term care policies must provide coverage for at least X in a setting other
than an acute care unit of a hospital
18 months Cobra coverage
36 months COBRA coverage time for dependents in events such as death of the employee,
divorce or legal separation
7 days Grace period for weekly premium policies
10 days Grace period for monthly premium policies
31 days Grace period for all other modes of premium payment
45 days Coverage is automatically reinstated if not refused within x?
10 days sickness is covered only after x amount of time after reinstatement
20 days Notice of claims is required within x of the loss
15 days Company must provide claims forms within x
90 days Proof of loss must be submitted within x of the loss
2 years Time limit on certain defenses provision - no misstatement can be used to deny a
claim after the policy has been in effect for how long
60 days, 3 years Insured must wait x, but no later than x after proof of loss before legal action can
be brought against the company.
2 years Relation of earnings to insurance - can only limit benefits of the insured based off
of their average income for the past x
$200/month Relation of earnings to insurance does not allow benefits to be reduced to less
than x/month
10 days from the date of delivery Free look period for health policies
