Final Exam Study Guide Latest Michigan life and health

Final (Exam Study Guide (Latest 2024 / 2025 ))- Michigan life and health A health insurance policy that allows an insurer to change the policy owners premiums, but not cancel the policy is called Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? A life insurance policy that contains a guaranteed interest rate with the chance to earn a rate that is higher than the guaranteed rate is called Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. This change is called a(n) crossover conversion exchange extension of benefits Major medical insurance will typically cover medical expenses that result from A Medicare supplement basic benefit is All of the following are considered to be non-forfeiture options available to a policy owner except Chris is an insured bricklayer who severed his left hand in an automobile accident. Although his primary duty cannot be performed, Chris is also a substitute high school teacher. He collects a full disability income check every month. How does his policy define total disability? The acceptance of a credit life application requires the submission of a certificate of insurance to the insured within ___ days. Which of the following is not considered advertising? If an insured dies during the grace period with no premiums paid? Which of these is considered a living benefit option in a life insurance policy? Reggie purchased a life insurance policy with the face amount of $500,000. After 15 years the cash value was accumulated to $100,000 and the policies face amount has become $600,000 which type of life insurance policy is this? An insured under a major medical expense plan with a zero deductible and 80/20 coinsurance prevention files a $1000 claim. How much of this claim is the insured responsible for? All of the following are included as part of a contract and the entire contract except the To be eligible for Small employer group coverage, and employer must work a minimum of ___ hours in a typical week In the Michigan insurance code, chapter 45, insurance fraud defines financial loss as all of the following except Which of the following provides Medicare supplement policies? A life insurance policy owner does not have the right to Which of the following describes a person who is not acceptable by and ensure our standard rates because of health history, occupation, or hobbies? Which of the following is included in the entire contract according to the entire contract provision? When calculating the amount of life insurance needed for an income earner, what Hass to be determined when using the needs approach? Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured. policy certificate application rider Which of the following would be considered a possible application and contract policyholder for group health benefits? Which of the following actions is required by a producer who is replacing an existing life insurance policy? HMO plans are required to provide? Continuous 24 hour care provided by licensed medical professionals under the direct supervision of a physician is called A payment system for healthcare and watch the provider is paid for each service given is called Ted has a health insurance plan that requires him to pay a specific some out-of-pocket before any benefits are paid in the calendar year. Which of these does his Health plan have? A rehabilitation benefit is intended to