The NV Accident and Health (InsNV_Health02) certification exam is one of the best credentials in the modern Insurance Licensing world. The NV Accident and Health (InsNV_Health02) certification offers a unique opportunity for beginners or experienced professionals to demonstrate their expertise and knowledge with an industry-recognized certificate. With the Insurance Licensing InsNV_Health02 Exam Dumps, you can not only validate your skill set but also get solid proof of your proven expertise and knowledge.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Nevada Statutes, Rules and Regulations | ~32% | - Nevada Health-Specific Regulations
|
| Topic 2: Accident and Health — General Knowledge | ~68% | - Policy Provisions, Clauses & Riders
|
>> InsNV_Health02 New Exam Materials <<
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NEW QUESTION # 122
A policy pays a stated dollar amount for each day an insured is confined to a hospital, regardless of the actual hospital bill. What type of coverage is this?
Answer: C
Explanation:
Hospital indemnity insurance pays a fixed benefit for a covered hospital confinement, often expressed as a stated dollar amount per day. The payment is not based on the actual amount of the hospital bill. The insured may use the benefit for deductibles, transportation, household expenses, lost income, or other needs, subject to the policy terms. Because it pays a predetermined amount rather than reimbursing actual expenses, hospital indemnity coverage is generally considered limited-benefit or supplemental coverage.
Major medical insurance operates differently. It is designed to cover a broad range of medical expenses, subject to deductibles, coinsurance, network provisions, and out-of-pocket maximums. Major medical coverage generally reimburses or pays eligible expenses rather than merely paying a fixed daily hospital amount. The existence of hospital indemnity coverage does not replace the need for comprehensive health insurance.
The producer must clearly explain the limitations of indemnity products. It would be misleading to present a
$200-per-day hospital indemnity benefit as if it pays all hospital charges. Consumers should understand whether the policy is supplemental, what events trigger payment, whether preexisting-condition or waiting- period provisions apply, and whether benefits are payable in addition to other coverage.
References/topics from the Study Guide: Hospital Indemnity Insurance; Limited-Benefit Coverage; Supplemental Health Insurance; Major Medical; Fixed Indemnity Benefits.
NEW QUESTION # 123
Group coverage for a handicapped dependent child may be continued if the primary insured submits the required proof to the insurance company within what MAXIMUM period of time after the child reaches the limiting age?
Answer: D
Explanation:
A group health policy that terminates dependent-child coverage at a stated limiting age must continue coverage for an eligible dependent child who remains incapable of self-sustaining employment because of a qualifying disability and who remains dependent on the insured group member for support and maintenance.
To preserve that continuation right, the required proof must be furnished within 31 days after the child reaches the policy's limiting age.
This is a time-sensitive protection. The purpose is to prevent automatic termination of coverage solely because a dependent reaches the normal age limit when the child remains disabled and financially dependent.
After initial proof is provided, the insurer may require continuing proof of incapacity and dependency, but it may not demand that proof more often than permitted by law.
The 31-day rule should be distinguished from notice periods for newborn coverage, conversion rights, premium grace periods, and claim notices. Each insurance provision may use a different time period, so examination questions often test the exact statutory deadline.
Study Guide references/topics: group health dependents; limiting age; continuation of coverage; NRS 689B.
035 .
NEW QUESTION # 124
Which of the following characteristics is typical of group insurance?
Answer: B
Explanation:
Choice C is correct. Group insurance is designed to cover members of an eligible class, commonly all full- time employees of an employer, subject to the plan's participation, waiting-period, and eligibility rules. The employer or policyholder receives the master contract, while individual employees receive certificates of coverage describing their benefits. Therefore, choice B is incorrect because employees ordinarily do not receive separate individual policies. Medical examinations are generally not required for eligible employees during an initial enrollment period, especially when coverage is guaranteed issue. Choice A is therefore not a typical group-insurance feature. Enrollment is also not automatically available at any time. Employees normally enroll when first eligible or during an open enrollment period; late entrants may face evidence-of- insurability requirements or other conditions. Group insurance spreads risk across a defined group and is typically less individually underwritten than individual insurance. The key requirement is that the group be formed for a purpose other than obtaining insurance and that coverage be offered according to objective eligibility standards. Study Guide References/Topics: Group Health Insurance; Group Eligibility; Master Contract and Certificate of Coverage.
NEW QUESTION # 125
The commission for the placement of nonadmitted insurance is paid by the insurer to the:
Answer: C
Explanation:
The commission for the placement of nonadmitted insurance is paid to the surplus lines broker. A surplus lines broker is specially licensed to place eligible insurance with a nonadmitted insurer when coverage cannot be procured from authorized insurers under the conditions required by Nevada's Nonadmitted Insurance Law.
A nonadmitted insurer is not licensed or authorized to transact insurance generally in Nevada, but it may provide qualifying surplus-lines coverage through a properly licensed surplus lines broker. The broker performs the regulated placement function, documents the effort to obtain coverage from the admitted market when required, handles applicable filings, and ensures that statutory taxes and disclosures are addressed.
The policyholder purchases the insurance and pays the premium; the policyholder is not paid the placement commission. The Division of Insurance regulates the transaction and may receive taxes, fees, and reports as provided by law, but it is not the recipient of the insurer's commission. A third-party claimant is someone asserting a claim against an insured and has no role in the placement commission.
Study Guide references/topics: nonadmitted insurance; surplus lines; broker licensing; commissions; Nevada Nonadmitted Insurance Law .
NEW QUESTION # 126
What is the primary purpose of a waiver-of-premium rider on a life insurance policy?
Answer: A
Explanation:
A waiver-of-premium rider keeps qualifying life insurance coverage in force by waiving required premiums when the insured becomes totally disabled as defined in the rider. The rider protects against the risk that disability will interrupt income and make premium payments unaffordable. Once the rider's requirements are satisfied, the insurer pays or waives the premium according to the policy terms, allowing the coverage and any applicable cash-value features to continue.
The definition of total disability, the waiting period, the age limitation, proof-of-disability requirements, and the duration of the waiver are contractual matters. The rider does not usually mean that premiums are waived for every illness, injury, or temporary work interruption. The insured must meet the stated definition and provide required evidence. Some riders also require that disability begin before a specified age.
This rider should not be confused with disability-income insurance. Disability income pays a periodic benefit to replace a portion of income. Waiver of premium does not provide an income payment; it protects the life policy from lapse due to qualifying disability. It also differs from a payor-benefit rider, which is commonly used with juvenile policies and protects the policy when the premium-paying adult dies or becomes disabled.
References/topics from the Study Guide: Waiver of Premium Rider; Total Disability; Disability Income; Payor Benefit Rider; Policy Continuation.
NEW QUESTION # 127
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