WorksheetsAD Banker Ch 4
Total questions: 10
Worksheet time: 5mins
What is it called when the insured is unable to work due to illness or injury:
Disability Income
Benefit Period
Elimination Period (Waiting Period)
Pure Loss Of Income
Disability policies will pay benefits according to one of two definitions of __________
Permanent Disability
Total Disability
Any Occupation
Recurrent Disability
This provides benefits for loss of income after they return to work following a total disability.
Transplant Donor Benefit
Temporary Disability
Partial Disability
Residual Disability
This coverage is characterized by benefit periods of 2 years, 5 years, to age 65, or lifetime.
Short-Term Disability
Underwriting Group Disability plans
Benefit Period
Long-Term Disability (LTD)
What is it called when an insured's ability to work is impaired, but a full recovery is expected.
Presumptive Disability
Own Occupation
Temporary Disability
Residual Disability
Provides the funds to cover the overhead expenses of a business when the owner becomes disabled:
Cost of living Rider
Business Overhead Expense
Buy-Sell Agreement or Disability Buyout
Key Employee Insurance
Eliminates coverage for preexisting conditions as specified in the policy.
Impairment Rider
Lifetime Benefit Rider
Return of Premium Rider
Guaranteed Purchase Options
Extends the benefits for life if total disability begins before a specified age.
Social Insurance Supplement (SIS) Rider
Lifetime Benefit Rider
Rehabilitation Benefits
Cash Value Rider
Many insurance companies offer a short-term additional benefit in the form of a rider.
Additional Monthly Benefit (AMB) Rider
Hospital Confinement Rider
Impairment Rider
Non-Disabling Injury Rider
Common exclusions and limitations that apply to disability income policies include:
Hazardous hobbies or occupations
Deductible
Rider
Coinsurance
