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8 Cards in this Set
- Front
- Back
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Irrevocable disability insurance - must we notify insurer if change of occupation?
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NO - irrevocable
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What does "own occupation" mean in a contract?
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The insured can hold other gainful employment AND continue to receive benefits if he is unable to engage in his regular occupation.
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Under what conditions is elimination period not imposed in connection with coverage?
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1 - disability related to original illness
2 - less than SIX months after return to work |
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Guaranteed irrevocable individual disability insurance contract generally includes a maximum benefit period of:
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1 - 24 months
2 - 60 months 3 - 120 months 4 - until age 65 5 - for life |
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How to significantly reduce premium in disability contract?
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The elimination period
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Insurance that covers a mortgage loan is
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a group insurance contract with respect to which the policyholder is a financial institution.
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When a contract is cancellable, one must primarily pay attention to
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exclusions and restrictions
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Business group insurance is offered without evidence of insurability because....
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size of group covered makes apportion of the risk possible.
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