#1
Which of the following is a common provision in health insurance policies?
Lifetime renewability
ExplanationPolicy can be renewed without age restrictions.
#2
What is the purpose of a pre-existing condition clause in a health insurance policy?
To exclude coverage for conditions present before policy purchase
ExplanationCoverage exclusion for pre-existing conditions.
#3
What does 'co-payment' mean in health insurance policies?
The initial amount the policyholder pays before insurance coverage kicks in
ExplanationInitial payment before insurance coverage.
#4
What is the purpose of a 'deductible' in health insurance policies?
To limit the total payout by the insurer
ExplanationLimiting insurer payout.
#5
What does 'lifetime renewability' in health insurance policies mean?
The insurer guarantees to renew the policy without any age-related restrictions
ExplanationPolicyholders can renew regardless of age.
#6
Which provision ensures that an insurer cannot reject the renewal of a health insurance policy based on claims history?
Guaranteed renewability
ExplanationInsurer cannot deny renewal due to past claims.
#7
Under what circumstances can an insurer refuse to renew a health insurance policy?
If the policyholder fails to pay premiums
ExplanationNon-payment of premiums leads to refusal.
#8
Which provision in health insurance policies allows policyholders to accumulate benefits for each claim-free year?
No-claim bonus
ExplanationAccumulation of benefits for claim-free years.
#9
Which of the following provisions allows policyholders to switch their health insurance policy from one insurer to another without losing benefits?
Portability
ExplanationPolicyholders can transfer benefits between insurers.
#10
Which provision ensures that policyholders have the right to receive a written explanation if their health insurance claim is denied?
Reasonable notification requirement
ExplanationPolicyholders receive written denial explanations.
#11
What does the 'free look period' in health insurance policies refer to?
The period during which a policyholder can cancel the policy and get a refund
ExplanationTime for policy cancellation with refund.
#12
Which provision ensures that policyholders can transfer the benefits of their existing health insurance policy to a new policy with another insurer?
Portability
ExplanationTransfer of benefits between insurers.