Insurance - Study Mode

[#421] With regard to domiciliary hospitalization which is incorrect?
Correct Answer

(B) All chronic diseases are covered without any exclusion

Explanation

Solution: All chronic diseases are not covered there are some exclusion.

[#422] In respect of a family floater health policy, which of the following statements is correct?
Correct Answer

(A) The total premium payable is less than the total premium payable under non-floater policies

Explanation

Solution: In respect of a family floater health policy, The total premium payable is less than the total premium payable under non-floater policies.

[#423] Health insurance policy premiums qualify for tax relief under Income Tax Act?
Correct Answer

(B) 80D

Explanation

Solution: The premium paid towards health insurance policies qualifies for deduction under Section 80D of the Income Tax Act. On the premium paid for self, spouse, children and parents, the maximum deduction that can be availed is Rs 25,000 a year, provided the age of the individual is not above 60.

[#424] Cashless facility means –
Correct Answer

(C) Hospital (Network provider) would directly get the bills settled by the insurer

Explanation

Solution: Cashless policies mean that the health insurance company settles the bill directly with healthcare provider, whether a hospital or a nursing home. This is to reduce the direct financial burden on insured individual at the time of hospitalization.

[#425] Insurance is legitimate
Correct Answer

(A) When an adverse happening is likely

Explanation

Solution: Insurance is legitimate when an adverse happening is likely toh happen.