Chapter 9 Lesson 6 Other Types of Insurance

What is the primary purpose of disability insurance?

• To make you rich

• To replace part of your income if you become disabled

• To cover all medical expenses

• To pay for vacation trips

Which type of disability insurance is considered a must-have?

• Short-term disability insurance

• Long-term disability insurance

• Vision insurance

• Dental insurance

What is the elimination period for long-term disability insurance typically?

• 30 days

• 60 days

• 90 days

• 120 days

At what age should you consider purchasing long-term care insurance?

• 30

• 40

• 50

• 60

What percentage of income should long-term disability insurance cover?

• 30-40%

• 40-50%

• 60-70%

• 80-90%

Which of the following is NOT necessary if you have health insurance and a Health Savings Account?

• Vision insurance

• Long-term care insurance

• Identity theft protection

• Long-term disability insurance

What is the main function of identity theft protection?

• To monitor your credit score

• To cover you if someone steals your personal information

• To provide legal advice

• To offer travel insurance

Why is it important to have the right types of insurance in place?

• To demonstrate wealth

• To be generous to others

• To avoid paying taxes

• To increase your credit score

Which type of disability insurance should you buy to ensure you get paid if you can't do the job you were educated to do?

• Any occupation disability

• Own occupation disability

• Short-term disability

• Vision insurance

What is the main reason some supplemental insurance plans like vision and dental are not necessary?

• They are too expensive

• They are covered by a Health Savings Account

• They are not available

• They are not useful