Lines of Insurance
Generally, the Accident and Health or Sickness license allows authority to transact insurance products providing coverage for sickness, bodily injury, or accidental death and may include benefits for disability income. The licensee may also transact 24-hour care coverage and long-term care. The list below contains samples of some of the insurance products that can be transacted with this license:
Health Insurance - Protects the insured against financial loss caused by accidents and sickness. It may reimburse the insured for actual medical expenses incurred due to an accident or illness (hospitalization insurance) or it may provide protection for loss of income experienced by the insured during periods of disability due to accident or sickness (disability income insurance). Health insurance can be written on both an individual and group basis and includes medical expense, hospital indemnity, major medical, hospital, surgical, disability, cancer, accident, dental expenses, eyeglasses, prescription medication, and other health related expenses.
- Disability Income Insurance - Insurance that provides income payments to the insured wage earner when income is interrupted or terminated because of illness, sickness, or accident.
- Credit Disability Insurance - Disability insurance protecting the balance of debt, which provides a monthly benefit, during the disability of the insured, during the term of coverage.
- 24-Hour Care Coverage - The joint issuance of a workers' compensation policy with a disability insurance policy, health care service plan contract, or other medical insurance coverage for nonoccupational injuries and illnesses. This product shall not include a life insurance policy.
- Long-Term Care - Any insurance policy, certificate, or rider advertised, marketed, offered, solicited, or designed to provide coverage for diagnostic, preventive, or therapeutic, rehabilitative, maintenance, or personal care services that are provided in a setting other than an acute care unit of a hospital. Long-term care insurance includes disability based long-term care policies but does not include insurance designed primarily to provide Medicare supplement or major medical expense coverage.