Which provision in a health insurance plan is used to avoid Overinsurance when a person is covered by more than one plan quizlet?

Which provision in a health insurance plan is used to avoid Overinsurance when a person is covered by more than one plan quizlet?

Coordination of Benefits is the method of determining primary and secondary coverage when an insured is covered by more than one group policy to help reduce overinsurance.

Which of the following actions will an insurance company most likely not?

Which of the following actions will an insurance company most likely NOT take if an applicant, who has diabetes, applies for a Disability Income policy? The correct answer is “”Issue the policy with an altered Time of Payment of Claims provision””.

What is the elimination period of an individual disability policy?

What is the elimination period of an individual disability policy? The correct answer is “”Time period a disabled person must wait before benefits are paid””. The elimination period of an individual disability insurance policy refers to the amount of time a disabled person must wait before benefits are paid.

Which of the following is an eligibility requirement for all Social Security disability income benefits quizlet?

To qualify for disability benefits under Social Security, the beneficiary must have fully insured status, go through a five-month waiting period and have a disability that is expected to last at least one year or result in their death.

Which of the following factors about the insured determines the amount of disability benefit that the insured will receive?

The cost of disability income policy coverage is based on all of the following, EXCEPT: Premiums for disability income insurance are based on five factors: insured’s occupation; insured’s earned income; policy’s definition of disability; length of the benefit period; and length of the elimination period.

What are opportunity costs examples?

The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop, or an alternate use of the resources (land and farm equipment). A commuter takes the train to work instead of driving. Jan 29, 2020

Which of the following is the best example of opportunity cost?

For example, choosing public transportation to travel to a particular destination by foregoing the option of traveling in one’s own car is a good example of opportunity cost, because you end up saving money which needs to be spent on fuel.

What is an opportunity cost quizlet?

opportunity cost. the most desirable alternative given up as the result of a decision.

What is the primary purpose of a Stoli?

Stranger-owned life insurance (STOLI), or stranger-originated life insurance, is a way to bypass the insurable-interest requirement of purchasing life insurance. To legally purchase life insurance, the purchaser must have an insurable interest in the insured.

What is the purpose of a Stoli?

What is a STOLI? STOLI refers to the sale of a life insurance policy to a third party. The owner of the life insurance policy sells the policy for an immediate cash benefit. The buyer becomes the new owner of the life insurance policy, pays future premiums, and collects the death benefit when the insured dies.

Which pet insurance is the most reliable?

Best Pet Insurance Companies of 2022 Best Overall: Pet Assure. Best for Routine Care: PetFirst. Best for Multiple Pets: ASPCA Pet Health Insurance. Best for Emergencies: Embrace. Best for Holistic Care: Figo. Best for Older Dogs: Hartville. Best for Chronic Conditions: 24PetWatch. Best for Servicemembers: USAA. More items…

Does pets best insurance go up every year?

Price hikes Most buyers sign up for insurance when their pets are young and monthly premiums are lowest. But four or five years later, the premiums most companies charge start to rise — purely because the pets get older. Sooner or later, the price may become unaffordable. Oct 24, 2018

Which insurance is best for my dog?

Best Pet Insurance Companies of 2022 Healthy Paws: Our pick for unlimited coverage. Figo: Most flexible reimbursement rates. Prudent Pet: Our pick for extra coverage. ASPCA Pet Health Insurance: Most experienced. Pawp: Ideal for multiple pets. Pumpkin: Our pick for preventative care. More items…

Is it worth shopping around for pet insurance?

Pet insurance can be relatively expensive, so it’s worth shopping around for the best deal. Comparison websites are a good place to start. But they don’t all cover the whole market. So use a few different sites to make sure you don’t miss any good deals.

Which pet insurance does not increase with age?

Healthy Paws and Trupanion offered the lowest lifetime premium costs. This is due, in large part, because they don’t boost premiums as pets age. Based on its extensive research, Checkbook concludes: “If you’re going to buy pet insurance, Healthy Paws and Trupanion are two good places to start looking.” Sep 12, 2018