H3 Disability Income

Which disability policy provision would address any concerns of the value of the benefits decreasing over time? Cost of living benefit Inflation rider benefit Policy enhancement benefit Interest sensitive benefit

Cost of living benefit

Coming from an insurance point of view, which of the following is the main risk associated with disability? Loss of limbs Loss of income Decreased work skills Decreased mobility

Loss of Income

What is the elimination period of an individual disability policy? Time period an insured must wait before coverage begins Time period a disabled person must wait before benefits are paid Time period after the policy issue date in which the provisions are still contestable The point in time when benefits are no longer payable

Time period a disabled person must wait before benefits are paid

An example of a presumptive disability would be a stroke deafness diabetes cancer

deafness

A policyowner suffers an injury that renders him incapable of performing one or more important job duties. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Partial disability Nondisabling injury Presumptive disability Flat amount disability

partial disability In this situation, the policyowner would be eligible for benefits under a partial disability provision.