WorksheetsDisability Insurance
Total questions: 15
Worksheet time: 5mins
Disability Insurance is:
a type of insurance that pays some of a person's income when they are disabled from an illness or injury and cannot work
a type of insurance that helps cover a portion of medical costs, injuries, and specialist visits
a type of health insurance that covers a variety of life-threatening illnesses
a type of insurance that pays out a sum of money either on the death of the insured person or after a set period
Why is disability insurance necessary?
It's not! Health insurance is a better route to take
It gives you money back if you are injured at work so that the company is held accountable
It is an important part of health insurance that helps your loved ones care for you if you are severely injured
It helps to cover essential expenses such as food, tuition, utilities, and mortgage in the event that you are injured and cannot work
The ideal plan should enable you to:
pay your day-to-day expenses while recovering
become rich
be successful in life
When should people consider disability insurance?
When they get married
When they graduate from college
When they start a full-time job
When they retire
Most disability insurance will replace:
80% - 100% of your income
60% - 80% of your income
40% - 60% of your income
20% - 40% of your income
A computer technician is in an accident on his way home from work and breaks both wrists.
Which of his insurance plans will provide him with income while he is out of work recovering for six weeks?
Short-term Disability Insurance
Long-term Disability Insurance
Workers' Compensation
Health Insurance
A young woman falls on the ice, hurts her back, needs surgery, and will be out of work for three months.
What does she need to do to claim the disability insurance she has through her employer?
Inform her employer only
Call her doctor and ask him to send her employer a note
Contact her health insurance company
Inform her employer and see her doctor to have the doctor confirm that she is not able to work
Disability Insurance can cover you until what age?
45
55
65
75
Who needs Disability Insurance?
Only people who are already disabled
Sick or injured for an extended period of time
People who work in jobs that require life-threatening tasks
People who are unemployed
How much does disability insurance cost?
It costs roughly 6k a year
Every person has a different estimate depending on their job, their income, how often you are home, height, and more
Everyone pays a down-payment of $400 as a base cost and then it depends on their job
Disability insurance is free as long as you submit an application with a doctor's note
What is long-term disability insurance?
It is a type of disability insurance that lasts you your entire life, as long as you are disabled for that span of time
This insurance plan lasts you for 2 years
There is no such thing as long-term disability insurance
It has a wait time of a couple months until a few years, but the benefits is that they last for years up until ages 65-67
What is short-term disability insurance?
This is a type of insurance plan that has a wait time of 0-14 days and lasts up until 2 years
This insurance plan has a wait time of one month and lasts for up to 3 years
This insurance plan has a wait time of 14 days and covers your income as long as you are disabled for under a year
There is no such thing as short-term insurance
Why is disability insurance needed if health insurance exists?
We don't. Health insurance already covers you if you gain an injury that disables you
Disability insurance is a form of health insurance so having just health insurance will cover everything
Disability insurance helps cover your paychecks for essentials if you are unable to work while health insurance helps cover medical bills
Disability insurance is a better option if health insurance is too expensive
What does disability insurance cover?
Disability insurance covers the cost of your medical bills
It does not cover the cost of anything, it's only enough to make paying for things easier
It covers a portion of your income, especially enough to cover the cost of necessities
What is a benefit of having an employer-sponsored insurance plan?
There is none. The cons outweigh the pros.
The wait period for being accepted for insurance is slimmer
The insurance is typically a part of a larger benefits package so it can be a good investment
The cost of the insurance is lower
