Question

Why is covering the costs of treating pre-existing medical conditions not part of insurance?

a.

It is unnecessary

b.

It goes against the principle of creating risk pools

c.

It is not profitable for insurance companies

d.

It is unfair to healthy individuals

Posted under IC38 Life Insurance Agent Exam

Answer: (b).It goes against the principle of creating risk pools Explanation:Covering pre-existing medical conditions goes against the principle of creating risk pools and is considered unfair to healthy individuals.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Why is covering the costs of treating pre-existing medical conditions not part of insurance?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. How are pre-existing diseases typically defined in health insurance?

View solution

Q. According to IRDAI regulations, what is compulsory for all health insurance policies?

View solution

Q. What is the purpose of sub limits and disease-specific capping in health insurance policies?

View solution

Q. What do some health insurance policies include as part of sub limits and disease-specific capping?

View solution

Q. What is the purpose of co-payment in health insurance policies?

View solution

Q. Co-payment requirements in health insurance can be either compulsory or voluntary, depending on what?

View solution

Q. What is the purpose of a deductible/excess in health insurance policies?

View solution

Q. How does a deductible affect a claim in health insurance?

View solution

Q. In the context of hospital cash policies, what does the term "deductible" refer to?

View solution

Q. Is the waiting period for making a claim applicable in cases of hospitalization due to an accident?

View solution

Q. What is the purpose of waiting periods for specific diseases in health insurance?

View solution

Q. What is the typical waiting period imposed for specific diseases by insurance companies?

View solution

Q. What is the purpose of the waiting period for specific diseases in health insurance?

View solution

Q. Under what circumstances does the cost of a pre-policy checkup get reimbursed by the insurer?

View solution

Q. What type of additional cover provides coverage for certain life-threatening ailments and expensive treatment?

View solution

Q. What does the reinstatement of sum insured cover allow the insured to do?

View solution

Q. Which type of alternative medical treatments are covered by some policies under the category of AYUSH?

View solution

Q. What does an "outpatient cover" in health insurance typically include?

View solution

Q. How does a "hospital cash" benefit work in health insurance?

View solution

Q. In order to trigger the "hospital cash" benefit, what condition must be met?

View solution
View All MCQs on IC38 Life Insurance Agent Exam

Recommended Subjects

Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Surveying

Master the art of land surveying and geomatics with our Surveying category. Explore...

Verbal Reasoning

Sharpen your logical thinking and reasoning abilities with our Verbal Reasoning...

Avionics Engineering

Soar into the world of aviation technology with our Avionics Engineering category....

UIDAI Aadhaar Supervisor Certification

Prepare for the UIDAI Aadhaar Supervisor Certification with our specialized category....

Environmental Biotechnology

Discover the intersection of biology and environmental science with our Environmental...

IC38 Life Insurance Agent Exam

Prepare for success in the Insurance Institute of India (III) IC38 IRDA examination...

Automotive Engine Design

Embark on a thrilling exploration of Automotive Engine Design, where the intricacies...

Human and Cultural Diversity

Explore the rich tapestry of human societies with our Human and Cultural Diversity...

Life Sciences

Delve into the diverse world of life sciences with our specialized category. Explore...