Question

Which of the following statements describes what an Accident and Health policy owner may NOT do?

1) Cancel the policy at any time
2) Receive benefits for covered medical expenses
3) Designate a beneficiary to receive the policy proceeds upon death
4) Modify the terms and conditions of the policy

Answer 1

An Accident and Health policy owner may NOT cancel the policy at any time.

Step-by-step explanation:

An Accident and Health policy owner may NOT cancel the policy at any time. This is because an insurance policy is a contract between the policyholder and the insurance company. Once the policy is in effect, the policyholder is obligated to pay premiums and abide by the terms and conditions stated in the policy. The policy can only be canceled or terminated based on specific circumstances outlined in the policy itself, such as non-payment of premiums.