MISSISSIPPI HEALTH AND LIFE INSURANCE TEST COMPLETE
QUESTIONS & ANSWERS (GRADED A).Buy Quality Materials!
Accident
An unplanned, unforeseen event which occurs suddenly and at an unspecified place.
Accident Insurance
A type of insurance that protects the insured against loss due to accidental bodily injury
Accidental Death and Dismemberment
An insurance policy which pays a specified amount or a specified multiple of the
insured's benefit if the insured dies, loses sight, or loses two limbs due to an accident
Accidental Death Benefits
A policy rider that states that the cause of death will be analyzed to determine if it
complies with the policy description of accidental death
Actual Charge
The amount a physician or supplier actually bills for a particular service or supply
Adhesion
A contract offereed on a take it or leave it basis by an insurer, in which the insured's
only option is to accept or reject the contract. Any ambiguities in the contract will be
settled in favor of the insured
Admitted (Authorized) Insurer
An insurance company authorized and licensed to transact insurance in a paricular
state
Adult Day Care
A program for impaired adults that attempts to meet their health, social, and functional
needs ins a setting away from their homes
Adverse Selection
The tendency of risks with higher probability of loss to purchase and maintain insurance
more often than the risks who present lower probability
Aleatory
A contract in which participating parties exhange unequal amounts. Insurance contracts
are aleatory in that the amount the insured will pay in premiums is unequal to the
amount the insurer will pay in the event of a loss
Alien Insurer
An insurance company that is incorporated outside the United States.
Apparent Authority
The appearance or the assumption of authority based on the actions, words, or deeds
of the principal or because of circumstances the principal created.
Approved Amount
The amount Medicare determines to be reasonable for a service that is covered under
part B of Medicare.
Assignment
A claim to a provider or medical supplier to receive payments directly from Medicare
Attained Age
The age of the insured at a determined date.
Attending Physician's Statement (APS)
, A statement usually obtained from the applicant's doctor.
Avoidance
A method of dealing with risk by deliberately keeping away from it (e.g. if a person
wanted to avoid the risk of being killed in an airplane crash, he/she might choose never
to fly in a plane).
Basic Hospital Expense Insurance
Coverage that provides benefits for room, board and miscellaneous hospital expenses
for a certain number of days during a hospital stay.
Basic Medical Expense Insurance
Coverage for doctor visits, x-rays, lab tests, and emergency room visits; benefits,
however, are limited to specified dollar amounts.
beneficiary
The person who receives the proceeds from the policy when the insured dies
Benefit Period
Length of time during which benefits are paid
Birthday rule
The method of determining primary coverage for a dependent child, under which the
plan of the parent whose birthday occurs first in the calendar year is designated as
primary.
Blanket Medical Insurance
A policy that provides benefits for all medical costs, including doctor visits,
hospitalization, and drugs.
Boycott
An unfair trade practice in which on person refuses to do business with another until he
or she agrees to certain conditions
Buyer's Guide
A booklet that describes insurance policies and concepts, and provides general
information to help an applicant make an informed decision.
cafeteria plan
A selection of health care benefits from which an employee may choose the ones that
he/she needs.
Capital Amount
A % of the principal amount of a policy paid to the insured if he/she suffered the loss of
an appendage
Carriers
Organizations that process claims and pay benefits in an insurance policy
cease and desist order
A demand of a person to stop committing an action that is in violation of a provision.
Cerificate of Insurance
A written document that indicated that an insurance policy has been issued, and that
states both the amounts and types of insurance provided
claim
A request for payment of the benefits provided by and insurance contract
Coercion
An unfair trade practice in which an insurer uses physical or mental force to persuade
an applicant to buy insurance.
QUESTIONS & ANSWERS (GRADED A).Buy Quality Materials!
Accident
An unplanned, unforeseen event which occurs suddenly and at an unspecified place.
Accident Insurance
A type of insurance that protects the insured against loss due to accidental bodily injury
Accidental Death and Dismemberment
An insurance policy which pays a specified amount or a specified multiple of the
insured's benefit if the insured dies, loses sight, or loses two limbs due to an accident
Accidental Death Benefits
A policy rider that states that the cause of death will be analyzed to determine if it
complies with the policy description of accidental death
Actual Charge
The amount a physician or supplier actually bills for a particular service or supply
Adhesion
A contract offereed on a take it or leave it basis by an insurer, in which the insured's
only option is to accept or reject the contract. Any ambiguities in the contract will be
settled in favor of the insured
Admitted (Authorized) Insurer
An insurance company authorized and licensed to transact insurance in a paricular
state
Adult Day Care
A program for impaired adults that attempts to meet their health, social, and functional
needs ins a setting away from their homes
Adverse Selection
The tendency of risks with higher probability of loss to purchase and maintain insurance
more often than the risks who present lower probability
Aleatory
A contract in which participating parties exhange unequal amounts. Insurance contracts
are aleatory in that the amount the insured will pay in premiums is unequal to the
amount the insurer will pay in the event of a loss
Alien Insurer
An insurance company that is incorporated outside the United States.
Apparent Authority
The appearance or the assumption of authority based on the actions, words, or deeds
of the principal or because of circumstances the principal created.
Approved Amount
The amount Medicare determines to be reasonable for a service that is covered under
part B of Medicare.
Assignment
A claim to a provider or medical supplier to receive payments directly from Medicare
Attained Age
The age of the insured at a determined date.
Attending Physician's Statement (APS)
, A statement usually obtained from the applicant's doctor.
Avoidance
A method of dealing with risk by deliberately keeping away from it (e.g. if a person
wanted to avoid the risk of being killed in an airplane crash, he/she might choose never
to fly in a plane).
Basic Hospital Expense Insurance
Coverage that provides benefits for room, board and miscellaneous hospital expenses
for a certain number of days during a hospital stay.
Basic Medical Expense Insurance
Coverage for doctor visits, x-rays, lab tests, and emergency room visits; benefits,
however, are limited to specified dollar amounts.
beneficiary
The person who receives the proceeds from the policy when the insured dies
Benefit Period
Length of time during which benefits are paid
Birthday rule
The method of determining primary coverage for a dependent child, under which the
plan of the parent whose birthday occurs first in the calendar year is designated as
primary.
Blanket Medical Insurance
A policy that provides benefits for all medical costs, including doctor visits,
hospitalization, and drugs.
Boycott
An unfair trade practice in which on person refuses to do business with another until he
or she agrees to certain conditions
Buyer's Guide
A booklet that describes insurance policies and concepts, and provides general
information to help an applicant make an informed decision.
cafeteria plan
A selection of health care benefits from which an employee may choose the ones that
he/she needs.
Capital Amount
A % of the principal amount of a policy paid to the insured if he/she suffered the loss of
an appendage
Carriers
Organizations that process claims and pay benefits in an insurance policy
cease and desist order
A demand of a person to stop committing an action that is in violation of a provision.
Cerificate of Insurance
A written document that indicated that an insurance policy has been issued, and that
states both the amounts and types of insurance provided
claim
A request for payment of the benefits provided by and insurance contract
Coercion
An unfair trade practice in which an insurer uses physical or mental force to persuade
an applicant to buy insurance.
