Exam 3 review Flashcard

Front

Which Medicare part functions like traditional hospital insurance and helps cover inpatient care and limited home health services?

Back

Part A

Front

If a senior is interested in having their Medicare coverage managed through a private insurance company with added benefits, which option should they consider?

Back

Medicare Advantage (Part C)

Front

True or False: Everyone who qualifies for Medicare is automatically enrolled in all four parts.

Back

False

Front

What's one potential drawback of choosing a short elimination period for disability coverage?

Back

Higher premiums

Front

Which policy offers the broadest coverage by paying benefits even if you can work a different job, but not your original job?

Back

Own-occupation

Front

If someone wants lower disability insurance premiums, which strategy could help? Options: Increasing the benefit period, Choosing a longer elimination period, Lowering their deductible, Opting for comprehensive medical coverage

Back

Choosing a longer elimination period

Front

True or False: Disability insurance replaces 100% of your previous income.

Back

False

Front

You invest a lump sum and begin receiving monthly income one month later. What did you purchase?

Back

Immediate annuity

Front

Which of the following is a common feature of a fixed indexed annuity? No limits on gains, Minimum guaranteed interest in down markets, Direct equity investment, Guaranteed returns based on inflation

Back

Minimum guaranteed interest in down markets

Front

What makes variable annuities riskier than other types?

Back

Returns depend on underlying investments