Ohio Insurance Laws and Regulations Practice Exam

The outline of coverage describes what policy features in a long-term care policy?

1. policy features, benefits, exclusions, and riders

2. payout methods, eligibility criteria, exclusions, and benefits

3. premium costs, coverage limits, eligibility criteria, and riders

4. benefits, claim procedures, exclusions, and premium costs

The correct answer is: policy features, benefits, exclusions, and riders

The outline of coverage in a long-term care policy provides a comprehensive explanation of the policy features, benefits, exclusions, and riders that are included in the policy. This information is important for understanding what is covered and what is not covered by the policy. Option B is incorrect because payout methods and eligibility criteria are typically not listed in the outline of coverage. Option C is incorrect because premium costs and coverage limits are typically not included in the outline of coverage. Option D is incorrect because claim procedures are generally not included in the outline of coverage, and premium costs are usually listed separately. So, option A is the most accurate and complete answer.