Chapter exam disability insurance

And is covered under an individual disability policy with a 30 day elimination . And a monthly benefit of $500. It is totally disabled 3 1/2 months in total bit of it received on the claim is

$1250

Aninsuriedowns an individual disability income policy with a 30 day illumination. For sickness and accidents and a monthly indemnity Benefit of $500. If the insured Is disabled for 3 1/2 months, what is the maximum amount he would receive for an approved claim?

$1250 3 1/2 months one month Elimination period= 2.5 month ax $500 monthly

He is insured under an individual disability income policy with a 30 day Elimination period. On July 1 he is involved in an accident and temporarily disabled. He returns to work on December 1. How many months of Benefits are payable?

4 months

P received Disability income benefits for three months then returns to work. She is able to work one month before her condition returns, leaving her disabled once again. What with the insurance company most likely regarding the second period of disability as?

A Recurrent disability

Which of the following is most important factor when deciding how much disability income coverage an applicant should purchase?

Applicant's monthly income

Disability policies do not normally pay for disabilities arising from which of the following?

war

Be as a teacher who was injured in a car accident and cannot work she is now receiving monthly benefits as a result of this accident. Which type of policy does B have?

Disability income

K becomes ill after traveling overseas and is an able to work for three months. What kind of policy would cover his loss of income?

Disability income

M becomes disabled and is unable to work for six months and die soon after from complications arising from this disability. And has a disability income policy that pays $2000 a month. Which of the following statements best describes what is owed to her state?

Earned but unpaid benefits

In a disability income policy which of these claims acts as a deductible

Elimination period

If physician it opens up a new practice and qualifies for a $7000 month disability income policy. What rider with the physician add if he wants the ability to increase His policy benefit as his practice in income grow?

Guaranteed insurability option rider

Bryce purchased a disability income policy with a rider that guarantees him The option of purchasing additional amounts of coverage at pre-determined times without requiring to provide evidence of insurability. What kind of Rider is this?

Guaranteed insurability rider

When determining the monthly benefit amount of a disability income policy, the factor that limits the amount of perspective insured may purchase is

Income

He has a disability income policy that pays a monthly benefit of 5000. If he becomes partially disabled what can he likely expect

Less than $5000 Per month benefit regardless of cause

Z owns a disability income policy with a 30 day elimination period. Z contracts pneumonia that leaves him unable to work from January 1 until January 15. She then becomes disabled from a accident On February 1 and the disability last until July 1 the same year. He will become eligible to receive benefits starting on

March 1 because of the 30 day Elimination period

Jay has a disability income policy that does not provide benefits for a losses Occurring as the result of his employment. What kind of coverage is this?

Non-occupational coverage

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

Normally includes an Elimination period

When an insured has the same disability with any specific time. And the insurance company provides same benefits without a new waiting period, the second disability is covered under which of the following benefits

Recurrent disability

A disability income policy owner suffers a disability which was due to the same causes as a previous disability. Both disabilities occur within a five month period. The insurer may cover the second disability without a new elimination. Under the

Reoccurring disability provision

D is an architect receiving Disability Income benefits who is not able to return to work full time, but can work on a part-time basis. Which of these features would allow D to continue receiving benefits?

Residual Benefit clause

Or had received for disability benefits for six months when he returned to work, he's only able to resume half his normal daily workload. Which provision pays reduced benefits to our while he is not working at full capacity?

Residual disability

When a person returns to work after a period of total disability but cannot earn as much as he or she did before the disability, the situation is called which of the following

Residual disability

What does guaranteed insurability rider provide a disability income policy owner?

The ability to predictably increase the amount of coverage without evidence of insurability

He was injured under an individual disability income policy it was severely burned in a fire as a result TV came totally disabled. The insured begin making monthly benefit payments, but later discovered that the fire was that intentionally arson. What action with the insured take?

The insurer will rescind The policy denied the claim and recover all payments

What is the Elimination period of an individual disability policy?

Time period a disabled person must wait before benefits are paid

The provision in a health insurance policy that supports premiums being paid to the insurer while The insured is disabled is called the

Waiver of premium

A CEOs personal assistant suffered injury at home and as a result was an able to work for four months which type of policy will pay a monthly benefit to the personal assistant?

disability income

Non-occupational disability coverage is designed for

employees who suffer non-work related disabilities, since work-related disabilities are covered by Workers' Compensation

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

spouse's occupation

A disability elimination period is best described as

time deductible

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

wages