Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 20 Topic 3 Discussion
Virginia Insurance Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 20 Topic 3 Discussion
Individual health insurance policies in Virginia must include a 10-day free look provision (B), allowing the policyholder to review and return the policy for a full refund.
Option A (pre-existing conditions) is not mandatory unless required by the ACA, and exclusions may apply.
Option C (only optional provisions) is incorrect; mandatory provisions are required, not just optional ones.
Option D (60-day grace period) is excessive; the standard is typically 30 or 31 days for health insurance.
The Virginia study guide mandates a 10-day free look period for individual health insurance policies, ensuring consumer protection, as per state law and NAIC standards. Reference: Virginia Life, Annuities, and Health Insurance study guide, section on "Health Insurance Policy Provisions."
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