Insurance - Study Mode

[#41] In case of hospitalization in a network hospital, admission would be on the basis of –
Correct Answer

(C) Either A or B

Explanation

Solution: In case of hospitalization in a network hospital, admission would be on the basis of Smart card or Pre-authorisation from Insurer/TPA.

[#42] If the insured gets admitted in a non-network hospital,
Correct Answer

(B) He would settle hospital bills and would get reimbursed by the insurer

Explanation

Solution: If the insured gets admitted in a non-network hospital, he would settle hospital bills and would get reimbursed by the insurer.

[#43] Who prescribes the format of a pre-authorisation letter and standard claim forms?
Correct Answer

(D) IRDA

Explanation

Solution: IRDA prescribes the format of a pre-authorisation letter and standard claim forms. The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.

[#44] As per IRDA regulations on health insurance –
Correct Answer

(B) Life time cover is mandatory

Explanation

Solution: On health insurance,xa0lifetime cover is mandatory.

[#45] Which of the following is incorrect?
Correct Answer

(C) The same yardstick as is followed by a firm can be applied while life ins. valuation
(F) These pensions are sufficient to maintain a modest life style
(I) Financial planning is for wealthy individuals only

Explanation

Solution: The same yardstick as is followed by a firm cannot be applied while life insurance valuation. Both have different ways.