Question

What is the key characteristic of Fixed Benefit Covers in health insurance?

a.

They offer unlimited coverage for medical expenses

b.

They provide coverage for all pre-existing diseases

c.

They offer a fixed sum as claim amount regardless of the actual medical expenses incurred

d.

They have a flexible premium structure

Posted under IC38 Life Insurance Agent Exam

Answer: (c).They offer a fixed sum as claim amount regardless of the actual medical expenses incurred Explanation:Fixed Benefit Covers in health insurance provide a fixed sum as a claim amount irrespective of the actual medical expenses incurred.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What is the key characteristic of Fixed Benefit Covers in health insurance?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is one of the common segments under Fixed Benefit Covers where treatments are listed?

View solution

Q. How are claims processed for Fixed Benefit Covers?

View solution

Q. Which of the following is an example of a Fixed Benefit Insurance Plan?

View solution

Q. What is the purpose of Hospital Daily Cash Policy in health insurance?

View solution

Q. What is one of the key advantages of Supplementary Cover in health insurance?

View solution

Q. Why is a Critical Illness Policy important for individuals?

View solution

Q. How do critical illness policies help individuals facing major diseases?

View solution

Q. What is the purpose of standardized definitions for critical illnesses under IRDA guidelines?

View solution

Q. What are the two forms of Critical Illness (CI) benefit plans commonly offered by life insurers?

View solution

Q. What percentage of the sum insured is generally paid on the diagnosis of a critical illness?

View solution

Q. What is the waiting period for any benefit to become payable under a critical illness policy?

View solution

Q. What is the purpose of Corona Kavach and Corona Rakshak policies introduced by IRDAI?

View solution

Q. What is the key feature of Corona Rakshak health insurance policy?

View solution

Q. What is the age range for individuals eligible for Corona Rakshak health insurance?

View solution

Q. What are the expenses covered under Corona Kavach health insurance for COVID-19 treatment?

View solution

Q. How many days of Home Care Treatment Expenses are covered under Corona Kavach for COVID-19 treatment?

View solution

Q. What is the additional cover offered under Corona Kavach health insurance?

View solution

Q. What is the minimum continuous hospitalization period required for a lump sum benefit under the Standard Vector Borne Disease Health Policy?

View solution

Q. How many times can the Policyholder claim the "diagnosis cover" payment for each covered vector-borne disease in the policy year?

View solution

Q. What do Health plus Life Combo Products offer?

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!

Electrical Measurement and Instrumentation

Unlock the world of electrical measurements with our dedicated category. Explore...

Cytogenetics

Delve into the genetic mysteries of chromosomes with our Cytogenetics category....

UIDAI Aadhaar Supervisor Certification

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

Human Resource Management

Explore the dynamic field of Human Resource Management (HRM) with our dedicated...

Verbal Ability

Hone your language and communication skills with our Verbal Ability category. Enhance...

Business Statistics

Uncover the power of data analysis with our Business Statistics category. Explore...

Total Quality Management

Enhance your understanding of quality management with our Total Quality Management...

Marketing and Marketing Management

Uncover the strategies and tactics of marketing with our Marketing and Marketing...

Professional Communication

Hone your communication skills with our Professional Communication category. Enhance...