Chapter Exam - Disability Income

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A CEO's personal assistant suffered injuries at home and as a result, was unable to work for four months. Which of policy Will pay a monthly benefit to the personal assistant?

Disability Income

Which of these statements concerning an individual disability income policy is TRUE?

Normally includes an Elimination period

When an insured has the same disability within a specified time period and the insurance company provides the same benefits without a new waiting period, the second disability is covered under which of the following benefits?

Recurrent Disability

X owns a disability income policy. X recently suffered a disability which was due to the same cause as a previous disability. These disabilities both occurred over a four-month span. Which of the following provisions allows X's second disability to be covered without a new elimination period?

Recurrent Disability

In a disability income policy, which of these clauses acts as a deductible?

Elimination Period

When determining the monthly benefit amount for a disability income policy, the fact that limits the amount a perspective insured may purchase is:

Income

T was insured under an individual disability income policy and was severely burned in a fire. As a result, T became totally disabled. The insurer began making monthly benefit payments, but later discovered that the fire was set by T and what was described as arson. What actions will be insured take?

The insurer will rescind the policy, deny the claim, and recover all payments made

What is the elimination period of an individual disability policy?

Time period a disabled person must wait before benefits are paid

What is the primary factor that determines the benefits paid under a disability income policy?

Wages

An individual disability income insurance applicant may be required to submit all of the following information, EXCEPT:

spouse's occupation


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