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