Term
| Individual Disablity Income policies only pay if the insured becomes ill or is injured at his/her residence. (T or F) |
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Definition
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| Individual disablity policies coer the insured even when the insured on vacation. (T or F) |
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| Disablity benefit payments are computed on present income levels and pay what percentage of the come? A) 50-60% B) 60-70% C) 80-90% D) 90-100% |
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Definition
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| The definition of total disability is the insured's inability to perform the duties of his/her own occupation or inability to perform the duties of insured's own occupation for 2 years, then any occupation. (T or F) |
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Definition
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| Some disablity policies use any occupation for which the insured is reasonably suited by education training and experience as the total disability definiton. (T or F) |
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| A key employee breaks his/her leg. This disability would normally be classified as _________. |
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| Long term disablity benefits stated in a policy are the maximum benefits that the policy will pay. (T or F) |
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Definition
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| Which disablity policy is written to pay the office rent, utilities and payroll, if a sole proprietor becomes disabled. |
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Definition
| -Business over Head Expense |
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Term
| A dentist returns to work after a disaility and finds that the number of patients seen per day is reduced by 45%, due to the inability to complete a task as quickly as before. This classification of disablity ________. |
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Definition
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| The insured's occupation and hazardous hobbies (will/will not) affect the rating on a disability policy. |
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| If a telemarketer suffered a stroke and was unable to speak, this would be considered presumptive Disablity. (T or F) |
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Definition
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Term
| Which Disability Income special use policy pays a lump sum benefit? |
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Definition
| Business Buy-Sell agreements |
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Term
| Work related disabilities are covered under Workers' Compensation. (T or F) |
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Definition
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Term
| Group disability is normalyy written to cover nonoccupational risks. This means the coverage is only in place when the person is unemployed. |
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Definition
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| The Social Security disability qualifications state: to be fully eligible for disability the person must be unable to be gainfully employed for a period of _____ _____ |
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| -Military duties and occupations are covered by commercial policies in the same way civilian employees are covered. (T or F) |
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| ______ is the most important rating factor for Disability Income insurance. |
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Definition
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