Own occupation is the:

Inability to perform all duties of one's own occupation

A court reporter develops arthritis making it impossible to continue this employment. The reporter now has other employment at a reduced salary and receives a monthly benefit from an insurance contract due to what policy provisions?

Residual Disability recognizes one's ability to continue to work, but at a reduction of earnings.

What type of disability income insurance is designed help a small business continue to make regular monthly payments on its long-term financial commitments in the event of the owner's disability?

Disability Reducing Term helps a small business that has long-term financial commitments requiring regular monthly payments to meet its obligations. The amount of the benefit remains the same monthly, but the benefit period reduces.

A Short-Term Disability Policy generally is for a disability lasting for:

A Short-Term Disability is always defined as less than 2 years' duration.

Which of the following will be covered under a business owner expense (business overhead) policy?

The business overhead expense policy is designed to cover overhead such as rent, utilities, and employee's wages upon the disability of the owner. It will not cover the owner's wages, loss of profit, or disabled employee wages

Joan was told she could only expect about 70% of her weekly salary on a disability check if she was ever disabled. The reason for this is to reduce _________.

Malingering Malingering can be characterized as either a moral hazard (lying about one's disability) or a morale hazard (a person chooses not to work because they have some income available).

Help

Options

focusNode

Didn't know it?
click below

Knew it?
click below

Don't Know

Remaining cards (0)

Know

retry

shuffle

restart

0:00

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

Normal Size Small Size show me how

L&H 10

Question	Answer
Most group Disability Income contracts are offered on a(n):	A Nonoccupational basis
Own occupation is the:	Inability to perform all duties of one's own occupation
The Age Discrimination in Employment Act (ADEA) affects both the short- and long-term group disability benefits for people employed after age _______.	65
Residual Disability Income pays funds to the insured, to make up for what the insured would have earned after returning to work, and while recovering from ___________.	Total Disability
A court reporter develops arthritis making it impossible to continue this employment. The reporter now has other employment at a reduced salary and receives a monthly benefit from an insurance contract due to what policy provisions?	Residual Disability recognizes one's ability to continue to work, but at a reduction of earnings.
What type of disability income insurance is designed help a small business continue to make regular monthly payments on its long-term financial commitments in the event of the owner's disability?	Disability Reducing Term helps a small business that has long-term financial commitments requiring regular monthly payments to meet its obligations. The amount of the benefit remains the same monthly, but the benefit period reduces.
Hank, an auto mechanic, had an accident in his garage. He was unconscious for several hours and he awoke in the hospital with a broken leg and missing an arm. His disability would be:	Partial, permanent
What provision states that if there is a second disability due to the same cause within a specified period, the elimination period will be waived?	Recurrent Disability
In Individual Disability Income underwriting, the single most important rating factor from an underwriting standpoint is the applicant's:	Occupation
A Short-Term Disability Policy generally is for a disability lasting for:	A Short-Term Disability is always defined as less than 2 years' duration.
Which of the following will be covered under a business owner expense (business overhead) policy?	The business overhead expense policy is designed to cover overhead such as rent, utilities, and employee's wages upon the disability of the owner. It will not cover the owner's wages, loss of profit, or disabled employee wages
Joan was told she could only expect about 70% of her weekly salary on a disability check if she was ever disabled. The reason for this is to reduce _________.	Malingering Malingering can be characterized as either a moral hazard (lying about one's disability) or a morale hazard (a person chooses not to work because they have some income available).

Created by: rachel krystopowicz

"Know" box contains:
Time elapsed:
Retries: