Understanding Disability Insurance

Understanding Disability Insurance

Assessment

Interactive Video

Business, Life Skills

10th - 12th Grade

Medium

Created by

Lucas Foster

Used 3+ times

FREE Resource

The video tutorial explains disability insurance, covering both short-term and long-term policies. It discusses the approval process for claims, the differences between employer-provided and individual policies, and the tax implications. The tutorial also provides guidance on choosing individual policies, emphasizing factors like waiting periods and non-cancelable options. It concludes with advice on maintaining financial health.

Read more

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of your salary does disability insurance typically cover if you are unable to work due to a medical condition?

50-70%

30-50%

10-30%

70-90%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of disability insurance is generally for a duration of no longer than a year?

Long-term

Short-term

Permanent

Temporary

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the typical waiting period before long-term disability benefits begin?

9-12 months

3-6 months

6-9 months

1-2 months

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How are benefits from employer-provided disability insurance typically taxed?

Partially taxed

Tax-free

Taxed only if over a certain amount

Fully taxed

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key advantage of participating in employer group rate disability insurance?

Higher premiums

Tax-free benefits

More affordable rates

No waiting period

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor does NOT typically affect the cost of an individual disability insurance policy?

Age

Occupation

Marital status

Hobbies

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What might some insurers do if an individual has a chronic condition?

Extend the waiting period

Provide tax-free benefits

Offer a lower premium

Refuse to write a policy

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?