Exam 11: Health, Disability, and Long-Term Care Insurance

Joan Wilder receives a phone call from a salesperson who tries to sell her an insurance policy by scaring her about her high risk of death from this disease. She knows that this type of insurance policy has a notoriously poor value so she politely declines. What type of insurance policy did this salesperson likely try to sell her?

Group health insurance plans comprise about what percent of all health insurance issued by health and life insurance companies?

Group health insurance will cover you but not your immediate family.

Good disability plans pay when you are unable to work at your regular job; poor disability plans pay only when you are unable to work at any job.

Medigap insurance, intended to supplement Medicare, is sold and serviced by the federal government.

Hospital expense insurance pays part or all of the hospital bills for room, board, and other charges.

Harry Mayhue gets a bad case of the flu and ends up in the hospital for three days. Which part of his basic insurance coverage should help pay for this stay?

Health insurance includes:

In the U.S., administrative costs consume nearly 11 percent of health care dollars, compared to 1 percent under Canada's socialized system.

Unfortunately, most salaried workers in the United States do not participate in Social Security programs.

Most people are more likely to lose their income due to death than due to disability.

Which type of insurance provides for the partial replacement of income lost by employees as a result of an accident or illness?

Chris Jones has an insurance policy that pays benefits in cash when he is hospitalized. What type of insurance would this be?

Which health care plan is administered by each state within certain broad federal requirements and guidelines?

Renee Crowgy's policy includes a $500 deductible and a coinsurance provision requiring her to pay 20 percent thereafter. Her medical bills total $5,500. What amount is she required to pay personally?

A good health insurance plan should:

Darren Chase has an insurance policy that will only pay for a maximum of 60 days of hospitalization during a year. What provision in his insurance policy would specify this?

Basic health insurance coverage includes hospital expense insurance, surgical expense insurance, and physician expense insurance.

Public opinion polls consistently show that Americans are happy with the nation's health care system.

The hospital indemnity policy is a good substitute for basic or major medical protection.