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 7 of 18

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Q61.
How does a "hospital cash" benefit work in health insurance?

a.

It provides reimbursement for all medical expenses

b.

It offers a lump sum payment for each day of hospitalization

c.

It eliminates the need for deductibles and co-payments

d.

It covers all outpatient expenses

Discuss
Answer: (b).It offers a lump sum payment for each day of hospitalization Explanation:A "hospital cash" benefit in health insurance provides a lump sum payment for each day of hospitalization for a specified period.
Q62.
In order to trigger the "hospital cash" benefit, what condition must be met?

a.

The insured must pay a deductible

b.

The insured must have outpatient coverage

c.

The hospitalization period must be beyond a deductible period

d.

The policy must cover outpatient expenses

Discuss
Answer: (c).The hospitalization period must be beyond a deductible period Explanation:To trigger the "hospital cash" benefit, the hospitalization period must be beyond a deductible period.
Q63.
When is the "recovery benefit" typically paid in health insurance?

a.

After any hospitalization

b.

After the first day of hospitalization

c.

After the total period of stay in the hospital due to sickness and/or accident is not less than 10 days

d.

After outpatient treatment

Discuss
Answer: (c).After the total period of stay in the hospital due to sickness and/or accident is not less than 10 days Explanation:The "recovery benefit" is typically paid after the total period of stay in the hospital due to sickness and/or accident is not less than 10 days.
Q64.
What is the purpose of "donor's expenses" coverage in health insurance?

a.

To cover the insured's personal expenses

b.

To cover expenses incurred by the donor in case of organ transplant

c.

To eliminate the need for co-payment

d.

To cover the insured's outpatient expenses

Discuss
Answer: (b).To cover expenses incurred by the donor in case of organ transplant Explanation:"Donor's expenses" coverage in health insurance is designed to cover expenses incurred by the donor in case of organ transplant.
Q65.
Which expenses are reimbursed under "reimbursement of ambulance" coverage in health insurance?

a.

All medical expenses incurred during hospitalization

b.

Expenses incurred by the insured for ambulance services

c.

Expenses incurred by the insured for surgeries

d.

Expenses incurred by the insured for outpatient treatments

Discuss
Answer: (b).Expenses incurred by the insured for ambulance services Explanation:"Reimbursement of ambulance" coverage in health insurance reimburses expenses incurred by the insured for ambulance services.
Q66.
What does "family definition" refer to in health insurance?

a.

The definition of a family's medical history

b.

The definition of a family's income

c.

The definition of a family's coverage under the policy

d.

The definition of a family's lifestyle

Discuss
Answer: (c).The definition of a family's coverage under the policy Explanation:"Family definition" in health insurance refers to the definition of who is covered as a family under the policy.
Q67.
What is the significance of Arogya Sanjeevani in the context of health insurance?

a.

It excludes pre-existing diseases

b.

It standardizes health insurance terms and conditions

c.

It offers premium discounts to policyholders

d.

It provides coverage only for Covid-19 related expenses

Discuss
Answer: (b).It standardizes health insurance terms and conditions Explanation:Arogya Sanjeevani is a standard health insurance product that aims to standardize health insurance terms and conditions, making it easy for customers to understand.
Q68.
Why did IRDAI introduce Arogya Sanjeevani health insurance?

a.

To offer premium discounts to policyholders

b.

To encourage the purchase of health insurance

c.

To exclude pre-existing diseases from coverage

d.

To address the confusion caused by different health insurance offerings in the market

Discuss
Answer: (d).To address the confusion caused by different health insurance offerings in the market Explanation:IRDAI introduced Arogya Sanjeevani health insurance to address the confusion caused by different health insurance offerings in the market.
Q69.
What types of plans are available under the Arogya Sanjeevani Insurance Policy?

a.

Pre-existing diseases plan and non-pre-existing diseases plan

b.

Individual plan and family floater plan

c.

Covid-19 plan and non-Covid-19 plan

d.

Hospitalization plan and outpatient plan

Discuss
Answer: (b).Individual plan and family floater plan Explanation:The Arogya Sanjeevani Insurance Policy offers two types of plans: individual plan and family floater plan.
Q70.
What is the key feature of Arogya Sanjeevani with regard to room rent and ICU charges?

a.

No capping on room rent and ICU charges

b.

A 100% capping on room rent and ICU charges

c.

A 50% capping on room rent and ICU charges

d.

Variable capping depending on the hospital

Discuss
Answer: (c).A 50% capping on room rent and ICU charges Explanation:Arogya Sanjeevani comes with a capping of 50% on room rent and ICU charges.
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