To protect against a disabled person receiving more income by being disabled than they can earn by working, most group disability plans will offset policy benefits with any of the following benefits, EXCEPT:
To protect against a disabled person receiving more income by being disabled than they can earn by working, most group disability plans will offset policy benefits with any of the following benefits, EXCEPT:
Wage continuation plans
Medicaid
Edward has been treated for kidney stones in the past. He is applying for disability benefits. His agent should explain to him that he might have which of the following added to his policy:
A longer elimination period for benefits
A waiting or probationary period before disabilities related to his pre-existing condition is covered.
Carl is unable to work due to a medical condition. He has been confined to his home for four months and wants to begin the process for filing a disability claim with Social Security. All of the following are true EXCEPT:
He should wait until he has completed 5 months of waiting.
He should be eligible for Medicare before he applies.
A business overhead expense policy will cover all of the following expenses EXCEPT:
Copy machine lease
50% of the owner’s salary
Larry, Moe and Curly are equal partners in a business that has been valued at $500,000 by their accountant. None of the three want to be in business with their partner’s families in the event one is disabled. The business entity should purchase which of the following?
Three Disability Buy-Sell policies for $100,000 each
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