Florida Life and Health Insurance License Practice Test

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Prepare for the Florida Life and Health Insurance License Test. Study with flashcards and multiple choice questions, each with hints and explanations. Get ready for your certification exam with ease!

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Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What characteristic defines a Guaranteed renewable health policy?

  1. Cannot be cancelled by the insurer

  2. Premiums can only be increased for the entire class

  3. Automatically renews without evidence of insurability

  4. Claims must be filed annually

The correct answer is: Premiums can only be increased for the entire class

A guaranteed renewable health policy has the characteristic of allowing the policy to renew automatically without the need for evidence of insurability. This means that an individual can continue their coverage without having to go through medical underwriting again. Option A, not being able to be cancelled by the insurer, is a characteristic of a non-cancellable policy. Option C is a characteristic of a guaranteed renewable policy but it does not define it. Option D is not true because claims can be filed whenever necessary, not just annually. Therefore, B is the most accurate answer.

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