Xcel ch 14 disability insurance

which of the following statements regarding group disability insurance is TRUE?

it provides benefits for non occupational illnesses and injuries

a policy owner suffers an injury that renders seem incapable of Performing one or more important job duties. Any decrease in income resulting from his injury would make him eligible for benefits under which provision?

partial disability

which type of disability would be less than total impairment and equal to permanent impairment?

permanent partial disability

typically, long term disability benefits are coordinated with which Benefit Plan?

social security

a disability elimination period is best described as a

time deductible

what is the elimination period of an individual Disability Policy?

time period A disabled person must wait before benefits are paid

Frank is shopping for disability income policy. Which of the following would have the HIGHEST premium?

14 day waiting period / 10 year benefit period the disability income policy with the lowest waiting period And the longest benefit period Would have the highest premium

Tyler purchased a Disability Policy with a waiver of premium Rider on April 1. he is the same old on May 1. on June 1, he receives proof of permanent and total disability and submits a claim. he begins receiving benefits on June 15. when are his premiums waived?

May 1 premiums are waived beginning at the date of disability

the waiting period for disability insurance policy

excludes payments for a short-term illness or injury

loss of income Insurance provides

an individual the means to replace wages

the factor used most often when underwriting a disability income policy is

annual earnings

a disability income policy can prevent an insured from earning a higher income than if he or she were working by utilizing

benefit limits