Question

What is the definition of "health insurance business" as per the Insurance Act, 1938?

a.

The effecting of contracts that provide for life insurance benefits.

b.

The effecting of contracts that provide for property insurance benefits.

c.

The effecting of contracts that provide for sickness benefits or medical, surgical, or hospital expense benefits, whether in-patient or out-patient, travel cover, and personal accident cover.

d.

The effecting of contracts that provide for automobile insurance benefits.

Posted under IC38 Life Insurance Agent Exam

Answer: (c).The effecting of contracts that provide for sickness benefits or medical, surgical, or hospital expense benefits, whether in-patient or out-patient, travel cover, and personal accident cover. Explanation:According to the Insurance Act, 1938, "health insurance business" is defined as the effecting of contracts that provide for sickness benefits or medical, surgical, or hospital expense benefits, whether in-patient or out-patient, travel cover, and personal accident cover.

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Q. What is the definition of "health insurance business" as per the Insurance Act, 1938?
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