FL Health agent 240 Exam Questions And Answers Verified 100% Correct

FL Health agent 240 Exam Questions And Answers Verified 100% Correct May include payments for disability income, medical, hospital and surgical expense reimbursement, dental expenses, accidental death and dismemberment, and long-term care expenses - ANSWER -Health insurance benefits Relationship that must exist at the time of application in which an insured's sickness or injury would result in a financial or economic loss by the policyowner - ANSWER -Insurable interest An illness or disease that occurs after a policy is issued - ANSWER -Sickness An application for health insurance is completed by a producer and signed by the applicant. The applicant remembers information that needs to be added to the application before being submitted to the insurer and contacts the producer, who has returned to the office. - ANSWER -The producer must meet with the applicant in person to update the information and have the applicant initial the changes If an incomplete application is accepted by the underwriter and a policy is issued without requesting the missing information, which of the following statements applies? - ANSWER -The insurer waives its right to contest a claim based on the incomplete application If a premium is submitted with the application and a conditional receipt is issued, coverage is effective: - ANSWER -The date of application, or date of a completed medical exam if required, whichever is later, as long as the policy would have been issued as applied for the primary source of underwriting information - ANSWER -Application Alerts members about an insurance applicant's previous claim information - ANSWER -MIB Medical Information Bureau If a premium is paid at the time of application and the policy is issued as applied, legal delivery can occur at the time of: - ANSWER -Issuance of the policy If a premium is not paid at the time of application, the producer will obtain which of the following at the time of policy delivery? - ANSWER -Signed statement of good health potential risks of replacement of an individual health or disability insurance policy, except: - ANSWER -Coverage due to an accident will be restricted for 30 days after the effective date of the policy Ultimately, insurability of an applicant is determined by the - ANSWER -Insurer's home office underwriter Which of the following has primary responsibility for ensuring that the application is filled out completely? - ANSWER -Producer If the insurer issues a policy after receiving an application for health insurance in which questions regarding preexisting conditions were left blank, what would be the consequence to the insured's coverage if a preexisting condition caused a claim shortly after the policy was issued? - ANSWER -Coverage would be as stipulated in the policy because the company issued the policy even though the question was left blank Field underwriting is very important: - ANSWER -Due to the risk of a moral hazard If an application is submitted with a question left unANSWERed, which of the following should occur? - ANSWER -The insurer would require an ANSWER before issuing a policy The specified period that must elapse before new coverage is effective for nonaccidental losses is known as which of the following? - ANSWER Probationary period The prior medical conditions for which the applicant has received, or should have received, medical advice or treatment within a specified period before the effective date of a policy are called: - ANSWER -Pre-Existing Conditions In the event there is a policy issued and there are questions on the insurance application that went unANSWERed: - ANSWER -It will be assumed that the insurer waived their right to have ANSWERs to those questions Which of the following is required to sign the application for insurance? - ANSWER -Producer and the applicant Regarding HIPAA disclosures and privacy rules, before an insurer can share any medical information, the applicant must be notified of all the following, except: - ANSWER -The insurer has the right to share identifiable health information with the agent The agent's primary underwriting role is: - ANSWER -To make sure the application provides the proper information G applies for a policy as a standard risk after paying the initial premium. After thorough underwriting, the insurer issues the policy as a substandard risk. The issued policy represents: - ANSWER -The insurer's counteroffer The Medical Information Bureau provides information to the insurer regarding the individual risk of an applicant and does not include: - ANSWER -Credit score An insurance applicant must be notified prior to an insurer ordering an investigative or financial report as required by which law? - ANSWER -Fair Credit Reporting Act What is the primary source of underwriting information for an individual health insurance policy? - ANSWER -The application In the event a policy is delivered by an agent to the insured, and the premium payment is to be collected at the time of this delivery, normally what else must the