Disability Insurance

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Across
  1. 3. The particular method of premium payment selected by the insured. The policy can be paid for annually, semi-annually, quarterly, or monthly. The choice elected will be indicated on the policy schedule page.
  2. 5. A policy provision that defines when an injury or illness will be considered continuous if there has been a recovery for a short period (usually six months) and then a recurrence of the same or related cause. A condition considered recurrent will not necessitate new satisfaction of the elimination period.
  3. 6. The policy deductible, usually the number of days from the onset of disability for which no benefits are payable.
  4. 7. A policy provision that indicates what will not be covered under the disability income policy.
  5. 9. A policy provision that considers an insured to be disabled under the sickness provision if donating a body organ.
  6. 11. Money that will be available to an individual whether or not he is disabled, affects the amount of disability coverage that may be purchased based on earned income
  7. 12. Information, ordered by the underwriter, that provides a summary description of the insured’s employment, health history, and habits as a result of a direct interview and interviews with business and personal associates.
Down
  1. 1. An optional benefit available under the Business Overhead Expense policy reimburses the insured for expenses incurred in paying a replacement during the insured’s disability.
  2. 2. An optional benefit that coordinates benefits with any benefits received through Social Security disability (and, often, other public programs) to avoid either underinsurance or over-insurance.
  3. 4. A policy provision that specifies the exemption of the insured from making premium payments following a specified number of days of disability, until the insured recovers. In many cases, any premium paid during the initial days following disability is refunded.
  4. 8. Often the key policy provision in the disability income policy, this feature defines the eligibility requirements necessary for an individual to qualify for full monthly benefits. Usually, an inability to perform work is the major requirement in the definition.
  5. 10. A monthly benefit paid to an individual in the event of an accident or sickness, to help replace earnings lost.