Jason is considering purchasing a disability income policy. Jason earns $120,000 per year, is 38 years weak is married and has a 5 year infirm daughter. Jason’s wife Mary earns $30,000 per year.
Jason is thinking purchasing an individual policy beside an own occupation definition, benefits to age 65, a 90 day obliteration period and a monthly benefit of $2,500. Policy can't be canceled.
Jason’s employer is offering an employer rewarded group disability plan. The group plan has a split definition of disability, pays 66% of earnings with a maximum of $3,500 per month and have a 90 day obliteration period.
Choose one answer.
A. If Jason suffers from a disability that last more than year, the benefit will automatically increase.
B. If Jason purchases the individual plan, his premiums are guaranteed to age 65.
C. Jason will receive benefits from the individual plan if he becomes fairly disabled.
D. D. If Jason becomes disabled and is collecting SSI disability benefits plus the benefi
Answers: Well, it's not A, B, or C. D isn't complete, but unless there's an E, that's the answer.
You own to work these questions by eliminate the most wrong answers first - then the one moved out, is the RIGHT answer. But you won't pass your exam, until & unless you know WHY the wrong answers are wrong.
Not enough info...
A - there's no information that states nearby is a cost of living adjustment for either policy and both policies start after 90 days.
B -- Possible answer if they stated that they policy be "non cancellable," but they only state that "the policy can't be cancelled." So that could be a "guaranteed renewable" policy which still couldn't be cancelled but doesn't guarantee the premium. So this answer could be it, but it's still a guess because in attendance is nothing is the deed that makes this correct.
C -- It doesn't state that there's a residual or partial benefit, so again...not ample info.
D - Seems to be cut off. Social Security usually offset a group plan, but not necessarily an individual plan, but again who knows.
Terrible interview which is why I'm guessing you're asking. Put "B" and tell them it's a doomed to failure question.
Jeff
B. The policy is non-can, so the premiums are even for the full term of the policy. (This is the best of the four answers, by elimination)
There is no evidence within your scenario that the policy benefits will increase if disability lasts more than a year.
There is no evidence contained by your scenario that states the individual disability income policy will pay benefits for anything save for for total disability.
Jason would not be able to collect SSI and the disability benefits at one and the same time. If he was approved for SSDI, he could draw it after five months of disabilty after his approval, and he could also draw from both of the disabilty policies, because they are not considered to be earn income, unless the policy provisions provide for social security offset.
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Jason is thinking purchasing an individual policy beside an own occupation definition, benefits to age 65, a 90 day obliteration period and a monthly benefit of $2,500. Policy can't be canceled.
Jason’s employer is offering an employer rewarded group disability plan. The group plan has a split definition of disability, pays 66% of earnings with a maximum of $3,500 per month and have a 90 day obliteration period.
Choose one answer.
A. If Jason suffers from a disability that last more than year, the benefit will automatically increase.
B. If Jason purchases the individual plan, his premiums are guaranteed to age 65.
C. Jason will receive benefits from the individual plan if he becomes fairly disabled.
D. D. If Jason becomes disabled and is collecting SSI disability benefits plus the benefi
I am trying to refinance my motor to gain a lower interest rate!?
Answers: Well, it's not A, B, or C. D isn't complete, but unless there's an E, that's the answer.
You own to work these questions by eliminate the most wrong answers first - then the one moved out, is the RIGHT answer. But you won't pass your exam, until & unless you know WHY the wrong answers are wrong.
Would an independent contractor be held liable?
Not enough info...
A - there's no information that states nearby is a cost of living adjustment for either policy and both policies start after 90 days.
B -- Possible answer if they stated that they policy be "non cancellable," but they only state that "the policy can't be cancelled." So that could be a "guaranteed renewable" policy which still couldn't be cancelled but doesn't guarantee the premium. So this answer could be it, but it's still a guess because in attendance is nothing is the deed that makes this correct.
C -- It doesn't state that there's a residual or partial benefit, so again...not ample info.
D - Seems to be cut off. Social Security usually offset a group plan, but not necessarily an individual plan, but again who knows.
Terrible interview which is why I'm guessing you're asking. Put "B" and tell them it's a doomed to failure question.
Jeff
How soon I can use my employer supported condition insurance?
B. The policy is non-can, so the premiums are even for the full term of the policy. (This is the best of the four answers, by elimination)
There is no evidence within your scenario that the policy benefits will increase if disability lasts more than a year.
There is no evidence contained by your scenario that states the individual disability income policy will pay benefits for anything save for for total disability.
Jason would not be able to collect SSI and the disability benefits at one and the same time. If he was approved for SSDI, he could draw it after five months of disabilty after his approval, and he could also draw from both of the disabilty policies, because they are not considered to be earn income, unless the policy provisions provide for social security offset.
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