Ohio Insurance Laws and Regulations Practice Exam

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What is the exception for having plain and unambiguous health questions in long-term care insurance applications?

  1. Premium financing

  2. Guaranteed issue

  3. Common coverage

  4. Standard policy

The correct answer is: Guaranteed issue

Guaranteed issue takes into consideration any pre-existing conditions and does not allow an insurer to deny coverage or increase the cost of premiums based on an individual's health status. This is an exception to the requirement of having plain and unambiguous health questions in long-term care insurance applications. Option A, premium financing, is not related to the question at hand and is therefore incorrect. Option C, common coverage, does not pertain to the topic of health questions in insurance applications and is therefore incorrect. Option D, standard policy, is also not relevant to the exception for health questions in long-term care insurance applications.

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