Which of the following is NOT classified as a limited benefit plan?

The classification of limited benefit plans typically includes those types of insurance that provide coverage for specific risks or incidents rather than comprehensive healthcare services. Limited benefit plans are often designed to offer a specific payout for particular events, which is why accident-only policies, critical illness policies, and health maintenance organizations (HMOs) fall under this category.

Life insurance policies are designed to provide a death benefit to beneficiaries upon the death of the insured individual, rather than covering health-related expenses or specific risks associated with healthcare. As they do not focus on health-related benefits or pay out in cases of illness or injury in a way that aligns with limited benefit plans, they stand out from the other listed options.

Accident-only policies and critical illness policies specifically address the financial implications of unexpected accidents or severe medical diagnoses, while HMOs provide a network of health care services, offering limited benefits that are sometimes less comprehensive than traditional health insurance. In contrast, life insurance serves a totally different purpose, providing financial security to dependents rather than covering medical expenses. Thus, it does not classify as a limited benefit plan in the same way as the others.