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- 1. _______________ is an acronym for Social Security.
- 5. If no reinstatement application is required, an insured is _______________ effective upon payment of the late premium to either the company or the producer.
- 7. A _________________ renewable policy is renewable at the option of the insured (by paying the premium) up to a certain specified age (usually age 65), but the insurer may change rates by class.
- 8. Short-term disability ____________ have shorter elimination and benefit periods than long-term disability.
- 9. _________________ coverage pays the difference between what you used to make before your disability and what you can make now.
- 11. _______________ may be denied if they occur after policy expiration.
- 12. Except for ___________, health insurance policies are incontestable after they have been in force for 2 years.
- 13. ______________ person disability insurance indemnifies the business for the loss of services of a key employee due to disability.
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- 2. The _______________ occupations provision would allow an insurer to deny coverage if the insured became injured or died while committing a felony.
- 3. Business ________________ insurance will cover the ongoing business expenses of a self-employed person, such as rent or salaries, while the sole proprietor is disabled. Premiums are tax deductible, but benefits are taxable.
- 4. The most important factor to consider when writing disability income insurance is the amount of _______ that could be lost.
- 6. The waiting period for Social Security disability benefits is ______________ months.
- 10. The time limit on certain defenses clause is another name for the ____________________ clause (generally up to 2 years, except for fraud).