Chapter 4 Health Flashcards
What does a Guaranteed Insurability rider provide a Disability Income policyowner?
The ability to periodically increase the amount of coverage without evidence of insurability.
Which of the following conditions would be considered a presumptive disability under the standard individual disability contract?
Disability due to an accident
Injuries received while on the job
Total blindness of the insured
Disabilities that last more than two years
Total blindness of the insured
After a disability, an insured is eligible for Individual Disability Income benefits upon
Satisfying the elimination period requirement
The Probationary Period in a Health Policy is best described as the time period after
the policy is issued, during which no benefits would be provided for illness.
Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this?
Guaranteed insurability rider
A Disability Income policyowner suffers a disability which was due to the same cause as a previous disability. Both disabilities occurred within a five-month period. The insurer may cover the second disability without a new elimination period under the
Recurrent Disability provision. In this situation, the insurer will provide the same benefits without a new elimination period under the Recurrent Disability provision.
In a Disability Income policy, which of these clauses acts as a deductible?
Elimination Period
Waiver Period
Deductible Period
Probationary Period
Elimination Period
An individual Disability Income insurance applicant may be required to submit all of the following information EXCEPT
medical history
gross income
occupation
spouse’s occupation
Spouse’s occupation
A CEO’s personal assistant suffered injuries at home and as a result, was unable to work for four months. Which type of policy will pay a monthly benefit to the personal assistant?
Disability Income