Insurance MCQ

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Showing posts with the label Senior Plans

What is the MINIMUM number of Activities of Daily Living (ADL) an insured must be unable to perform to qualify for Long Term Care benefits?

What is the MINIMUM number of Activities of Daily Living (ADL) an insured must be unable to perform to qualify for Long Term Care benefits? Answer: 2

The guarantee of insurability option provides a long-term care policyowner the ability to

The guarantee of insurability option provides a long-term care policyowner the ability to Answer: buy additional coverage at a later date

The individual most likely to buy a Medicare Supplement policy would be a(n)

The individual most likely to buy a Medicare Supplement policy would be a(n) unemployed 64-year old female 62-year old male covered by Medicaid 68-year old male covered by Medicare uninsured 60-year old male Answer: 68-year old male covered by Medicare

Which of the following will a Long Term Care plan typically provide benefits for?

Which of the following will a Long Term Care plan typically provide benefits for? Answer: home health care

Which Long Term Care insurance statement is true?

Which Long Term Care insurance statement is true? Answer: Pre-existing conditions must be covered after the coverage has been in force for six months

A "reimbursement policy" pays what amount of covered Long-Term Care expenses?

A "reimbursement policy" pays what amount of covered Long-Term Care expenses? Answer: Actual covered expenses up to the daily maximum

Medicare Part C is

Medicare Part C is Answer: available to those who are enrolled in Medicare Part A and Part B

Nursing home benefits must be provided for at least 12 consecutive months in which of the following types of policies?

Nursing home benefits must be provided for at least 12 consecutive months in which of the following types of policies? Answer: Long-term care

If a retiree on Medicare required five hospital stays in one year, which policy would provide the best insurance for excess hospital expenses?

If a retiree on Medicare required five hospital stays in one year, which policy would provide the best insurance for excess hospital expenses? Answer: medicare

How long is the typical free look period for Long Term care insurance policies?

How long is the typical free look period for Long Term care insurance policies? Answer: 30 days

Medicare Part B does NOT cover

Medicare Part B does NOT cover Answer: inpatient hospital services

Under a Long Term Care policy, which benefit would be typically excluded or limited?

Under a Long Term Care policy, which benefit would be typically excluded or limited? Answer: Alcohol rehabilitation

Which of the following types of care is typically not covered in a Long-Term Care policy?

Which of the following types of care is typically not covered in a Long-Term Care policy? Answer: Acupuncture

Qualified Long-Term Care policies may take into consideration an applicant's pre-existing conditions for a maximum of not more than __ month(s) prior to the effective date of coverage.

Qualified Long-Term Care policies may take into consideration an applicant's pre-existing conditions for a maximum of not more than __ month(s) prior to the effective date of coverage. Answer: 6

Long Term Care policies will usually pay for eligible benefits using which of the following methods?

Long Term Care policies will usually pay for eligible benefits using which of the following methods? Answer: Expense incurred

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