Insurance Exam: Chapter 10

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

Your client has a Social Insurance Supplement (SIS) rider on his disability policy. After he becomes disabled, he receives payments from the company. Shortly thereafter, he also begins receiving Social Security benefit payments. Which of the following will happen?

The SIS payment will be reduced dollar-for-dollar by the Social Security benefit payment

What is the number of credits required for fully insured status for Social Security disability benefits?

40

The minimum number of credits required for partially insured status for Social Security disability benefits is

6 credits

In disability income insurance, the own occupation definition of disability applies

For the first 2 years of a disability

An insured is involved in an accident that renders him permanently deaf, although he does not sustain any other major injuries. The insured is still able to perform his current job. To what extent will he receive Presumptive Disability benefits?

Full Benefits

Which of the following is an eligibility requirement for all Social Security Disability Income benefits?

Have attained fully insured status

An insured severely burns her hand, but is not classified as disabled. Which of the following types of coverage would cover at least a portion of the insured's medical expenses?

Medical Reimbursement Benefit

What is the official name for the Social Security program?

Old Age Survivors Disability Insurance

An insured has a Social Insurance Supplement rider in her disability income plan. Following a disability, she begins receiving benefit payments from the insurer. She then begins receiving Social Security benefits that are smaller than the SIS benefit payments. At that point, her insurer ends the SIS benefit payments. Which of the following best describes the situation?

The insured should contact the insurer to confirm her actual Social Security benefit amount. The SIS rider should pay the different between the rider amount and the actual benefit

When does a person qualify to receive disability-related income?

When the insured is unable to perform his/her job duties

Which of the following conditions would a disability income policy most likely NOT require in order to qualify for benefits?

A specified income status prior to the disability

In disability income insurance, if an insured is considered disabled if they cannot perform any job they are suited for by prior education, training or experience, they fall under which definition of total disability?

Any occupation

John owns a medical expense policy that he purchased for his family. John's employer purchased a Group Disability Income policy for John and all eligible employees. John subsequently suffered an accident on the job that left him unable to work for four months. If John receives benefits from his disability income policy, which of the following would be true?

Benefits received that are attributable to employer contributions are fully taxable to the employee as income

According to the Future Increase Option Rider (FIO), which of the following is a qualifying event to increase an insured's benefit level?

Birth of a child, Age 40, and Marriage

Which of the following occupation would have the lowest disability insurance premiums?

Personal Trainer


संबंधित स्टडी सेट्स

The Worlds of Islam and Christendom Chapters 9 and 10

View Set

Research Methods & Data Analysis in Psychology Exam #1 University of Iowa

View Set

EDPUZZLE: Circles - introducing PI

View Set

Chapter 9 Assignment for Module 5

View Set