Which of the following is the most important factor when deciding how much disability income coverage an applicant should purchase? Show
What does a Guaranteed insurability rider provide a disability income policy owner? The ability to periodically increase the amount of coverage without evidence of insurability J has a disability income policy that does not provide benefits for losses occurring as the result of his employment. What kind of coverage is this? When an insured has the same disability within a specified time period and the insurance company provides the same benefits without a new waiting period, the second disability is covered under which of the following benefits? 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? Which of these statements concerning an individual disability income policy is true Normally includes an elimination period P received disability income benefits for 3 months then returns to work. She us able to work one month before her condition returns leaving her disabled once again. What would the insurance company most likely regard this second period of disability as? Z owns a disability income policy with a 30 day elimination period. Z contracts pneumonia that leaves him unable to work from Jan 1 until Jan 15. Z then becomes disabled from an accident on Feb 1 and the disability lasts until July 1 the same year. Z will become eligible to receive benefits starting on B is 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? T is insured under an individual disability income policy and was severely burned in a fire. As a result, T became totally disabled. The insurer began making monthly benefit payments but later discovered that the fire was set by T in what was described as arson. What actions will the insurer take? The insurer will rescind the policy deny the claim and recover all payments made Recommended textbook solutions
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Accounting: What the Numbers Mean9th EditionDaniel F Viele, David H Marshall, Wayne W McManus 338 solutions Intermediate Accounting14th EditionDonald E. Kieso, Jerry J. Weygandt, Terry D. Warfield 1,471 solutions What is the elimination period of an individual?Elimination period is a term used in insurance to refer to the time period between an injury and the receipt of benefit payments. In other words, it is the length of time between the beginning of an injury or illness and receiving benefit payments from an insurer.
What should an insured do if the insurer does not send claims?If your health insurer refuses to pay a claim or ends your coverage, you have the right to appeal the decision and have it reviewed by a third party. You can ask that your insurance company reconsider its decision.
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?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, this situation is called which of the following? Residual disability. A CEO's personal assistant suffered injuries at home and as a result, was unable to work for four months.
What is considered to be a characteristic of a conditionally renewable?The conditionally renewable provision in an insurance policy allows an insurance company to cancel immediately, not renew at the renewal date, or increase premiums on a policyholder under certain conditions. This provision benefits the insurer, not the policyholder.
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V is insured under an individual disability income policy with a 30-day elimination
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