What is the purpose of disability income insurance quizlet?
The purpose of disability income insurance is to replace the insured's lost income when they cannot work. Benefits under a disability income policy are provided until the insured reaches the age of: Most long-term disability income policies provide benefits until the insured reaches the age of 65.
What is the purpose of disability income insurance?
Disability income insurance provides benefits to replace lost income when an insured becomes unable to work because of illness and/or injury.
What does it mean when a disability income insurance policy was issued with a rating?
A “rating” is a percentage that estimates how much your disability limits the kinds of work you can do or your ability to earn a living. It determines the amount of your PD benefits.
In what form do disability income policies typically quizlet?
In what form do disability income policies typically pay benefits? Periodic income. Excludes payments for a short-term illness or injury.