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 6 of 18

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Q51.
In the context of hospital cash policies, what does the term "deductible" refer to?

a.

A specified percentage of the claim amount

b.

A fixed amount the insured is required to pay before the claim is paid by the insurer

c.

The cost of hospitalization

d.

The time period the insured must spend in the hospital

Discuss
Answer: (b).A fixed amount the insured is required to pay before the claim is paid by the insurer Explanation:In hospital cash policies, the term "deductible" refers to a fixed amount the insured is required to pay before the claim is paid by the insurer.
Q52.
Is the waiting period for making a claim applicable in cases of hospitalization due to an accident?

a.

Yes, it is always applicable

b.

No, it is never applicable

c.

Yes, except in the case of accidents

d.

No, it depends on the insurance company's policy

Discuss
Answer: (c).Yes, except in the case of accidents Explanation:The waiting period for making a claim is normally applicable in most policies, but it is not applied for hospitalization due to an accident.
Q53.
What is the purpose of waiting periods for specific diseases in health insurance?

a.

To prevent the insured from making any claims

b.

To limit the number of claims for certain diseases

c.

To encourage the insured to seek immediate treatment

d.

To allow the insured to plan treatment for certain diseases

Discuss
Answer: (d).To allow the insured to plan treatment for certain diseases Explanation:Waiting periods for specific diseases in health insurance allow the insured to plan treatment for certain diseases.
Q54.
What is the typical waiting period imposed for specific diseases by insurance companies?

a.

One to two months

b.

One to two years

c.

One to four years

d.

One to four months

Discuss
Answer: (c).One to four years Explanation:Insurance companies typically impose waiting periods of one to four years for specific diseases.
Q55.
What is the purpose of the waiting period for specific diseases in health insurance?

a.

To limit claims for all diseases

b.

To encourage early diagnosis and treatment

c.

To ensure claims are never paid

d.

To reduce the overall premium cost

Discuss
Answer: (b).To encourage early diagnosis and treatment Explanation:The waiting period for specific diseases in health insurance is meant to encourage early diagnosis and treatment.
Q56.
Under what circumstances does the cost of a pre-policy checkup get reimbursed by the insurer?

a.

Only if the policy is not accepted for underwriting

b.

Only if the proposal is rejected

c.

If the policy is accepted for underwriting

d.

If the policyholder changes their mind and cancels the policy

Discuss
Answer: (c).If the policy is accepted for underwriting Explanation:The cost of a pre-policy checkup is reimbursed by the insurer if the proposal is accepted for underwriting.
Q57.
What type of additional cover provides coverage for certain life-threatening ailments and expensive treatment?

a.

Maternity cover

b.

Reinstatement of sum insured

c.

Critical illness cover

d.

Coverage for AYUSH treatment

Discuss
Answer: (c).Critical illness cover Explanation:Critical illness cover provides coverage for certain life-threatening ailments and expensive treatment.
Q58.
What does the reinstatement of sum insured cover allow the insured to do?

a.

Cancel the policy without any penalty

b.

Restore the original sum insured after a claim is paid

c.

Reduce the premium cost

d.

Increase the deductible amount

Discuss
Answer: (b).Restore the original sum insured after a claim is paid Explanation:The reinstatement of sum insured cover allows the insured to restore the original sum insured after a claim is paid.
Q59.
Which type of alternative medical treatments are covered by some policies under the category of AYUSH?

a.

Ayurveda and Yoga

b.

Acupuncture and Chiropractic

c.

Homeopathy and Naturopathy

d.

All of the above

Discuss
Answer: (d).All of the above Explanation:Some policies cover expenses towards AYUSH treatment, which includes Ayurveda, Yoga, Unani, Siddha, Homeopathy, and other alternative medical treatments.
Q60.
What does an "outpatient cover" in health insurance typically include?

a.

Coverage for inpatient hospitalization expenses

b.

Coverage for inpatient and outpatient expenses

c.

Limited cover for outpatient expenses

d.

Unlimited coverage for outpatient expenses

Discuss
Answer: (c).Limited cover for outpatient expenses Explanation:An "outpatient cover" in health insurance typically includes limited coverage for outpatient expenses.
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