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.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of H03 Health Insurance Products. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

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H03 Health Insurance Products MCQs | Page 18 of 18

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Q171.
When policies are canceled by the insurer, what happens to the premium paid by the insured?

a.

It is returned to the insured without any deductions.

b.

It is forfeited, and the insured receives no refund.

c.

A proportion of the premium corresponding to the unexpired period of insurance is returned to the insured, provided no claim has been paid.

d.

The insurer retains the entire premium as a penalty.

Discuss
Answer: (c).A proportion of the premium corresponding to the unexpired period of insurance is returned to the insured, provided no claim has been paid. Explanation:When policies are canceled by the insurer, a proportion of the premium corresponding to the unexpired period of insurance is returned to the insured, provided no claim has been paid.
Q172.
What is the grace period for renewal in health insurance policies?

a.

The period during which a policyholder can delay premium payment with no consequences

b.

The period within which a policy must be renewed annually

c.

The time frame for claiming benefits after a policy lapses

d.

The period after the purchase of a policy during which no claims can be made

Discuss
Answer: (a).The period during which a policyholder can delay premium payment with no consequences Explanation:The grace period for renewal in health insurance policies is the period during which a policyholder can delay premium payment with no consequences.
Q173.
Though the duration of cover for pre-hospitalization expenses would vary from insurer to insurer and is defined in the policy, the most common cover is for ________ pre-hospitalization.

a.

Fifteen days

b.

Thirty days

c.

Forty Five days

d.

Sixty days

Discuss
Answer: (b).Thirty days Explanation:In health insurance policies, pre-hospitalization expenses coverage varies from insurer to insurer and is typically defined in the policy terms and conditions. The most common duration of coverage for pre-hospitalization expenses is for thirty days. This means that expenses incurred in the specified number of days leading up to the actual hospitalization are covered by the insurance policy.
Q174.
As per IRDA guidelines, a ________ grace period is allowed for renewal of individual health policies.

a.

Fifteen days

b.

Thirty days

c.

Forty Five days

d.

Sixty days

Discuss
Answer: (b).Thirty days Explanation:According to IRDA (Insurance Regulatory and Development Authority of India) guidelines, a grace period of thirty days is allowed for the renewal of individual health insurance policies. During this grace period, policyholders have the opportunity to renew their policies even if they miss the actual renewal date. This grace period provides some flexibility to policyholders to ensure continuity of their health insurance coverage.
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