Insurance and Health Policy Flashcard

Front

If the initial premium is not collected during the application process, when does an insurance contract become effective?

Back

When the producer agent delivers the policy and collects the initial premium

Front

People with low income can be provided with medical assistance through

Back

Medi-Cal

Front

When did the coverage become effective for an insurance policy applied for on January 8th, approved on January 14th, issued on January 15th, and delivered on January 26th?

Back

January 26th

Front

According to the PPACA, an adult can be covered by a parent's health care plan until what age?

Back

Age 26

Front

In order for coverage and a non-medical insurance application to take effect the same day, the producer must collect a signed application and?

Back

The initial premium

Front

Which statement regarding the Misstatement of Age provision is considered to be true? Coverage will be adjusted to reflect the insured’s true age if a misstatement of age is discovered, Requires that a new policy must be applied for if a misstatement of age is found on the current policy, Misstatement of Age provision is valid only during the Contestable period, Insurer may void the policy if a misstatement of age is discovered

Back

Coverage will be adjusted to reflect the insured’s true age if a misstatement of age is discovered.

Front

If Jack, an agent, takes an application for individual insurance and accepts a check from the client, but the check was never signed by the applicant, when will coverage be effective if the application is approved?

Back

The date the agent delivered the policy, collected the initial premium, and obtained a good health statement from the insured.

Front

Which of the following is NOT covered by the Family and Medical Leave Act (FMLA)?
Pregnancy, Adoption, Traveling overseas with a spouse, Attending to the serious health condition of a parent

Back

Traveling overseas with a spouse

Front

What action should a Producer take if the initial premium is NOT submitted with the application?

Back

Forward the application to the insurer without the initial premium.

Front

According to PPACA, how long can an adult be covered as a dependent under their parents' insurance plan?

Back

Up to age 26