Life/Health A.D. Banker - Chapter 10 | 100% Correct Answers

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Which of the following terms best describes the maximum length of time that disability income benefits will be paid to the disabled insured? A. Benefit period B. Disability period C. Coverage peri... od D. Elimination period - ✔✔A. The benefit period determines the amount of time a benefit will be paid. Benefits are limited by the policy's elimination period, duration of benefit, definition of disability, and any age limitations. The elimination period in a disability income insurance policy: A. Defines what causes of loss are eliminated from potential claim payment B. Describes how long the policy must be in force before claims can be considered C. Addresses where accidents and sicknesses must not occur in order for a claim to be payable D. Serves as a time deductible before benefits are payable - ✔✔D. The elimination period is the period for which an insured person must be disabled before benefits begin. Benefits begin only after this period of time is satisfied. An insured purchases a disability income policy with a 90 day elimination period. If a disability lasts 100 days, the insured would be entitled to receive benefits for: [Show More]

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