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 15 of 18

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Q141.
What exclusions are often waived in tailor-made group health insurance policies?

a.

Coverage for dental care

b.

Coverage for pre-existing diseases

c.

Coverage for congenital diseases

d.

Thirty days waiting period and pre-existing disease exclusion

Discuss
Answer: (d).Thirty days waiting period and pre-existing disease exclusion Explanation:In tailor-made group health insurance policies, several common exclusions, such as the thirty days waiting period and pre-existing disease exclusion, may be waived off.
Q142.
What is one of the key factors used in calculating the premium for a group health insurance policy?

a.

The insurance company's profit margin

b.

The group owner's willingness to pay

c.

The age profile of the group members

d.

The policy duration

Discuss
Answer: (c).The age profile of the group members Explanation:The premium for a group health insurance policy is typically based on the age profile of the group members, among other factors.
Q143.
In India, for what purpose are regulatory provisions strictly prohibiting the formation of groups primarily for group insurance covers?

a.

To prevent the formation of large groups

b.

To ensure that only employers can form groups

c.

To encourage the formation of diverse groups

d.

To prevent misuse of group insurance policies

Discuss
Answer: (d).To prevent misuse of group insurance policies Explanation:Regulatory provisions in India prohibit the formation of groups primarily for the purpose of taking out group insurance covers to prevent misuse of group insurance policies.
Q144.
When group policies are provided to other than employers, what is essential to determine?

a.

The profit margin of the group owner

b.

The age profile of the group owner

c.

The relation of the group owner to its members

d.

The policy duration

Discuss
Answer: (c).The relation of the group owner to its members Explanation:When group policies are provided to other than employers, it is essential to determine the relation of the group owner to its members to ensure the group's eligibility.
Q145.
What is the key factor in pricing group policies?

a.

The profit margin of the insurance company

b.

The willingness of the group owner to pay

c.

The size of the group and claims experience

d.

The policy duration

Discuss
Answer: (c).The size of the group and claims experience Explanation:In group policies, pricing is influenced by factors such as the size of the group and the claims experience of the group members.
Q146.
What is a corporate buffer or floater cover in group health insurance?

a.

A separate policy for critical illnesses

b.

A coverage for dental care

c.

An additional premium charged for large groups

d.

A sum insured that covers expenses over and above the family sum insured

Discuss
Answer: (d).A sum insured that covers expenses over and above the family sum insured Explanation:A corporate buffer or floater cover in group health insurance is a sum insured that covers expenses over and above the family sum insured, especially in the case of major illnesses of a family member.
Q147.
What is a common feature of recent disease-specific health insurance covers in the Indian market?

a.

Long-term coverage only

b.

Short-term coverage only

c.

Incentives for improved health management

d.

Lack of wellness benefits

Discuss
Answer: (c).Incentives for improved health management Explanation:Disease-specific health insurance covers introduced in the Indian market often include incentives for improved health management, such as reduced premiums for better control of health factors.
Q148.
In disease-specific health insurance covers, what is the purpose of offering wellness benefits?

a.

To reduce the coverage period

b.

To discourage policyholders from regular health check-ups

c.

To encourage regular health check-ups paid for by the insurer

d.

To increase premiums from the second year of the policy

Discuss
Answer: (c).To encourage regular health check-ups paid for by the insurer Explanation:Wellness benefits in disease-specific health insurance covers are included to encourage and support regular health check-ups paid for by the insurer.
Q149.
Which age group can typically purchase a product designed to cover diabetic individuals?

a.

18-65 years

b.

26-65 years

c.

30-70 years

d.

50-80 years

Discuss
Answer: (b).26-65 years Explanation:The product designed to cover diabetic individuals can be typically purchased by individuals between 26 and 65 years and is renewable up to 70 years.
Q150.
What is the maximum Sum Insured range for the product designed to cover diabetic persons?

a.

Rs. 5,000 to Rs. 50,000

b.

Rs. 50,000 to Rs. 5,00,000

c.

Rs. 1,00,000 to Rs. 10,00,000

d.

Rs. 10,00,000 to Rs. 1,00,00,000

Discuss
Answer: (b).Rs. 50,000 to Rs. 5,00,000 Explanation:The Sum Insured range for the product designed to cover diabetic persons typically ranges from Rs. 50,000 to Rs. 5,00,000.
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