Health coverage becomes effective when the:
First premium has been paid and the application has been approved
Accidental Injury only
Any death benefit under a health insurance contract is limited to deaths
The Fair Credit Reporting Act requires that..
The applicant for insurance be advised, in advance, that a consumer report may be requested
Sources of Underwriting
The contents of an inspection report CAN be disclosed to the applicant
The Insuring Clause does not state..
The method of premium payment
Consideration Clause
Forgetting important past treatment dates and signing the application anyways. The applicant would not be insured for not meeting the conditions
A producers underwriting responsibility includes..
Making sure all material facts are included in the application
Representation
Unaware of an existing physical problem
Conditional Receipt
It is an interim insuring agreement. It starts coverage right away if all conditions have been satisfied
Policy delivery refers to the delivery of the:
Completed insurance policy to the applicant
If the Premium has been paid and a conditional receipt has been issued, coverage starts when..
The Insurance company accepts the risk
In the Cancellation Provision
The insurance company IS obligated to refund the unearned premium upon cancellation
Critical Illness insurance
A limited health insurance policy that will pay a lump-sum to the insured if they are diagnosed with cancer, stroke, heart attack or Alzheimer's
Eligibility for Worker's Comp is determined by the:
State
Risk Avoidance
When someone considers buying a business, but elects not to do so
Most health insurance policies exclude all of the following
Occupational injury, Intentional Injury or Injury due to war
The Principal Sum
The payable death benefit on an Accidental Death and Dismemberment (AD&D)
The Capital Sum
Pays for dismemberment and is usually written to be 50% of the principal sum. (Loss of digits not covered)
Under the Fair Credit Reporting Act, Persons rejected for insurance
Must be informed of the source of the report
An agent may not change an application with
The verbal consent of the applicant
No type of HEALTH insurance covers:
Death due to sickness