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CT Life & Health Insurance Exam Questions and Answers Latest Version Already Passed
What type of insurance provides financial protection to beneficiaries upon the insured’s death?✔✔ Life insurance
What is the term for the length of time a life insurance policy is in force before it expires?✔✔ Policy term
What type of health insurance policy covers only specified illnesses or accidents?✔✔ Limited benefit policy
What does the grace period in a life insurance policy allow?✔✔ Extra time to pay a missed premium without losing coverage
What is the purpose of a beneficiary designation in a life insurance policy?✔✔ To specify who will receive the death benefit
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What type of life insurance policy builds cash value over time?✔✔ Whole life insurance
What does “underwriting” mean in the insurance process?✔✔ Assessing the risk of insuring an applicant
What is a “premium”?✔✔ The payment made to keep an insurance policy active
What type of health insurance plan requires you to use doctors within a network?✔✔ Health Maintenance Organization (HMO)
What is “renewability” in a health insurance policy?✔✔ The insured’s right to continue coverage after the initial term
What does a “rider” do in an insurance policy?✔✔ Adds or modifies coverage or benefits
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What is the primary purpose of disability income insurance?✔✔ To provide income replacement if the insured becomes disabled
What is a “co-insurance” clause?✔✔ The insured and insurer share the cost of covered expenses after the deductible
What is “conversion” in a health insurance policy context?✔✔ Changing a group policy to an individual policy without a new medical exam
What does “exclusion” mean in an insurance policy?✔✔ Specific conditions or risks not covered by the policy
What type of life insurance policy allows flexible premiums and adjustable death benefits?✔✔ Universal life insurance
What is the purpose of “accelerated benefits” in life insurance?✔✔ To allow early access to death benefits if the insured is terminally ill
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What is the difference between “term” and “whole” life insurance?✔✔ Term provides coverage for a set time; whole life provides lifelong coverage with cash value
What is a “waiting period” in disability insurance?✔✔ The time between injury or illness and when benefits start
What does “coordination of benefits” ensure in health insurance?✔✔ That multiple policies do not pay more than 100% of the claim
What is the “contestability period” in a life insurance policy?✔✔ Time during which the insurer can review and deny claims based on misstatements
What is “group insurance”?✔✔ Insurance covering a defined group, usually through an employer
What does “premium mode” refer to?✔✔ The frequency at which premiums are paid
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