Employee Benefits: Group Life and Health Insurance Quiz

What are employee benefits?

• Benefits other than wages sponsored by the employer

• Benefits provided by the government

• Benefits provided by the trade unions

• Benefits provided by the insurance company

What are employee benefits?

• Benefits other than wages sponsored by the employer

• Benefits provided by the government

• Benefits provided by the trade unions

• Benefits provided by the insurance company

What is the major difference between group and individual insurance?

• The cost of group insurance is usually more costly than individual insurance products

• The employee is a party to the group insurance contract

• The administration of group insurance is handled by the insurer

• Group insurance requires evidence of insurability

What is the purpose of the probationary period in group insurance?

• To allow the employee to participate in the plan immediately

• To provide a waiting period before the employee can participate in the plan

• To delay the coverage start date for the employee

• To determine the eligibility of the employee

What is the purpose of a cafeteria plan?

• To provide a single benefits package for all employees

• To allow employees to select their preferred benefits

• To reduce the administrative complexity of benefits plans

• To offer flexible spending accounts to employees

What is the purpose of preexisting condition provision in insurance?

• To deny claims arising from preexisting conditions

• To limit the benefits relating to a pre-existing condition

• To ensure full coverage for preexisting conditions

• To provide additional benefits for preexisting conditions

What is the purpose of accidental death and dismemberment (AD&D) insurance?

• To provide benefits for natural death only

• To provide benefits for accidental death and dismemberment

• To provide benefits for dismemberment only

• To provide benefits for illness-related death only

What is the purpose of the coordination-of-benefits provision in group medical insurance?

• To provide additional benefits for medical expenses

• To deny claims for medical expenses

• To limit the benefits payable under the plan

• To coordinate benefits with provincial insurance plans

What is the purpose of the deductible in group dental insurance?

• To limit the amount that the plan pays for each covered person

• To apply coinsurance in excess of the deductible

• To reimburse dentists based on their charges

• To provide a waiting period before coverage begins

What is the purpose of the coinsurance clause in group dental insurance?

• To reimburse dentists based on their charges

• To provide a waiting period before coverage begins

• To limit the amount that the plan pays for each covered person

• To apply coinsurance in excess of the deductible