H03 Health Insurance Products MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on H03 Health Insurance Products, a fundamental topic in the field of IC38 Life Insurance Agent Exam. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our H03 Health Insurance Products MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of H03 Health Insurance Products mcq questions that explore various aspects of H03 Health Insurance Products problems. Each MCQ is crafted to challenge your understanding of H03 Health Insurance Products principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC38 Life Insurance Agent Exam tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our H03 Health Insurance Products MCQs are your pathway to success in mastering this essential IC38 Life Insurance Agent Exam topic.

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H03 Health Insurance Products MCQs | Page 11 of 18

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Q101.
What do Health plus Life Combo Products offer?

a.

Combination of life insurance cover with property insurance

b.

Combination of health insurance cover with life insurance cover

c.

Combination of travel insurance with critical illness cover

d.

Combination of pet insurance with rental insurance

Discuss
Answer: (b).Combination of health insurance cover with life insurance cover Explanation:Health plus Life Combo Products offer the combination of a life insurance cover with a health insurance cover.
Q102.
Who can be the proposer for health insurance floater policies in combo-products?

a.

Only the eldest member of the family

b.

Only the person with the highest income in the family

c.

Any earning member of the family who meets the criteria

d.

Only the spouse of the policyholder

Discuss
Answer: (c).Any earning member of the family who meets the criteria Explanation:In combo-products with health insurance floater policies, the pure term life insurance coverage can be allowed on the life of one of the earning members of the family who is also the proposer on the health insurance policy, subject to insurable interest and other underwriting norms.
Q103.
What is the key feature of package policies in health insurance?

a.

They are offered by non-life insurance companies only

b.

They offer coverage for a single type of risk

c.

They combine multiple insurance covers under a single document

d.

They cannot include life insurance components

Discuss
Answer: (c).They combine multiple insurance covers under a single document Explanation:Package policies in health insurance combine multiple insurance covers, such as critical illness, indemnity policies, life insurance, and hospital daily cash benefits, under a single document.
Q104.
What type of benefits does travel insurance policy provide under package policies?

a.

Health insurance benefits only

b.

Life insurance benefits only

c.

Health insurance, accidental death/disability, and other benefits

d.

Property insurance benefits only

Discuss
Answer: (c).Health insurance, accidental death/disability, and other benefits Explanation:Travel insurance policies under package policies provide a combination of benefits, including health insurance, accidental death/disability, loss of or delay in arrival of checked-in baggage, loss of passport and documents, third-party liability, cancellation of trips, and hijack cover.
Q105.
What are micro-insurance products primarily designed for?

a.

High-income individuals

b.

Rural and informal sector workers with low income

c.

Corporations and large businesses

d.

Non-governmental organizations (NGOs)

Discuss
Answer: (b).Rural and informal sector workers with low income Explanation:Micro-insurance products are specifically designed for the protection of low-income people from rural and informal sectors with affordable premiums and benefit packages.
Q106.
Which regulatory body governs micro-insurance in India?

a.

IRDA Micro Insurance Regulations

b.

RBI (Reserve Bank of India)

c.

SEBI (Securities and Exchange Board of India)

d.

Ministry of Finance

Discuss
Answer: (a).IRDA Micro Insurance Regulations Explanation:Micro-insurance in India is governed by the IRDA Micro Insurance Regulations, 2005.
Q107.
Who typically takes micro-insurance covers in India?

a.

High-income individuals

b.

Large corporations

c.

Community organizations or NGOs for their members

d.

Only government employees

Discuss
Answer: (c).Community organizations or NGOs for their members Explanation:Micro-insurance covers in India are typically taken on a group basis by community organizations or non-governmental organizations (NGOs) for their members.
Q108.
Which government scheme aimed at providing health insurance coverage for below poverty line (BPL) families provided a Sum Insured of only Rs 30,000 and was later replaced by a more comprehensive scheme?

a.

Jan Arogya Bima Policy

b.

Universal Health Scheme

c.

Rashtriya Swasthya Bima Yojana (RSBY)

d.

Ayushman Bharat Scheme

Discuss
Answer: (c).Rashtriya Swasthya Bima Yojana (RSBY) Explanation:Rashtriya Swasthya Bima Yojana (RSBY) was the government scheme that provided health insurance coverage for BPL families with a Sum Insured of Rs 30,000.
Q109.
What is the flagship health scheme of the Government of India that aims to achieve Universal Health Coverage (UHC) and comes with a Sum Insured of Rs. 5,00,000?

a.

Jan Arogya Bima Policy

b.

Universal Health Scheme

c.

Rashtriya Swasthya Bima Yojana (RSBY)

d.

Pradhan Mantri Jan Arogya Yojana (PMJAY) - Ayushman Bharat Scheme

Discuss
Answer: (d).Pradhan Mantri Jan Arogya Yojana (PMJAY) - Ayushman Bharat Scheme Explanation:Pradhan Mantri Jan Arogya Yojana (PMJAY), also known as Ayushman Bharat Scheme, is the flagship health scheme of the Government of India that comes with a Sum Insured of Rs. 5,00,000 and aims to achieve Universal Health Coverage (UHC).
Q110.
Who is eligible to join the Pradhan Mantri Suraksha Bima Yojana (PMSBY)?

a.

All Indian citizens aged 18 to 70 years

b.

Only individuals with a specific income level

c.

All individuals with a savings bank account in participating banks aged 18 to 70 years

d.

Only government employees

Discuss
Answer: (c).All individuals with a savings bank account in participating banks aged 18 to 70 years Explanation:All savings bank account holders aged 18 to 70 years in participating banks are entitled to join the PMSBY through one savings bank account.
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