Question 1

Disability income benefits begin on the 10thday you are disabled.

Accepted Answer

A) True 
 B)False

Question 2

Long-term-care insurance is a type of supplemental health insurance

Accepted Answer

A) True 
 B)False

Question 3

A document attached to the policy that modifies its coverage by adding or deleting a specified condition is called a(n)

Accepted Answer

A)  beneficiary.
B)  waiver of premium.
C)  automatic premium loan.
D)  rider.
E)  incontestability clause.F) A) and E)
G) None of the above

Question 4

Which of the following will be used to determine a term insurance policy?

Accepted Answer

A)  age at which people will die.
B)  number of people who will die this year.
C)  number of people who will buy insurance this year.
D)  number of agents who sell life insurance.
E)  number of accidents in the regionF) B) and C)
G) A) and E)

Question 5

Disability income insurance is probably the most coveted form of available insurance protection.

Accepted Answer

A) True 
 B)False

Question 6

After you buy new life insurance you have a "free look" period of ______ days.

Accepted Answer

A)  10
B)  7
C)  21
D)  30
E)  28F) C) and D)
G) B) and E)

Question 7

Disability can cause even greater financial problems than death.

Accepted Answer

A) True 
 B)False

Question 8

In Canada most basic medical procedures are provided for under provincial government health plans.

Accepted Answer

A) True 
 B)False

Question 9

A two-earner couple may have

Accepted Answer

A)  the greatest need for life insurance.
B)  no need for life insurance.
C)  a moderate need for life insurance, especially if they have a mortgage.
D)  the greatest need for an annuity.
E)  no need for an annuity.F) B) and D)
G) All of the above

Question 10

The method of determining life insurance requirements that does not ignore such important factors as emergency funds and your liquid assets is called the

Accepted Answer

A)  easy method.
B)  "family need" method
C)  DINK method.
D)  "nonworking" spouse method.
E)  hard method.F) A) and C)
G) A) and B)

Question 11

The premium for non-cancelable and guaranteed renewable disability income insurance is higher,

Accepted Answer

A)  therefore, younger people should skip these coverages.
B)  hence, the insurance companies enjoy better profit margins.
C)  therefore, very few older workers should carry these coverages.
D)  but the coverages are well worth the extra cost
E)  hence, the policy pays benefits for life.F) All of the above
G) A) and B)

Question 12

Critical insurance illness is gaining recognition in Canada as a valuable insurance tool.

Accepted Answer

A) True 
 B)False

Question 13

Group health insurance plans comprise about 60 percent of all health insurance issued by health and life insurance companies.

Accepted Answer

A) True 
 B)False

Question 14

The "free-look" period allows you to cancel your life insurance without penalty anytime within 10 days.

Accepted Answer

A) True 
 B)False

Exam 9: Life, Health, and Disability Insurance

Disability can cause even greater financial problems than death.

Correct Answer
verified

After you buy new life insurance you have a "free look" period of ______ days.

Correct Answer
verified

A two-earner couple may have

Correct Answer
verified

The "free-look" period allows you to cancel your life insurance without penalty anytime within 10 days.

Correct Answer
verified

The method of determining life insurance requirements that does not ignore such important factors as emergency funds and your liquid assets is called the

Correct Answer
verified

The premium for non-cancelable and guaranteed renewable disability income insurance is higher,

Correct Answer
verified

In Canada most basic medical procedures are provided for under provincial government health plans.

Correct Answer
verified

Long-term-care insurance is a type of supplemental health insurance

Correct Answer
verified

Disability income benefits begin on the 10^thday you are disabled.

Correct Answer
verified

Group health insurance plans comprise about 60 percent of all health insurance issued by health and life insurance companies.

Correct Answer
verified

Which of the following will be used to determine a term insurance policy?

Correct Answer
verified

A document attached to the policy that modifies its coverage by adding or deleting a specified condition is called a(n)

Correct Answer
verified

Disability income insurance is probably the most coveted form of available insurance protection.

Correct Answer
verified

Critical insurance illness is gaining recognition in Canada as a valuable insurance tool.

Correct Answer
verified

Exam 9: Life, Health, and Disability Insurance

Disability can cause even greater financial problems than death.

Correct AnswerverifiedShow Answer

After you buy new life insurance you have a "free look" period of ______ days.

Correct AnswerverifiedShow Answer

A two-earner couple may have

Correct AnswerverifiedShow Answer

The "free-look" period allows you to cancel your life insurance without penalty anytime within 10 days.

Correct AnswerverifiedShow Answer

The method of determining life insurance requirements that does not ignore such important factors as emergency funds and your liquid assets is called the

Correct AnswerverifiedShow Answer

The premium for non-cancelable and guaranteed renewable disability income insurance is higher,

Correct AnswerverifiedShow Answer

In Canada most basic medical procedures are provided for under provincial government health plans.

Correct AnswerverifiedShow Answer

Long-term-care insurance is a type of supplemental health insurance

Correct AnswerverifiedShow Answer

Disability income benefits begin on the 10thday you are disabled.

Correct AnswerverifiedShow Answer

Group health insurance plans comprise about 60 percent of all health insurance issued by health and life insurance companies.

Correct AnswerverifiedShow Answer

Which of the following will be used to determine a term insurance policy?

Correct AnswerverifiedShow Answer

A document attached to the policy that modifies its coverage by adding or deleting a specified condition is called a(n)

Correct AnswerverifiedShow Answer

Disability income insurance is probably the most coveted form of available insurance protection.

Correct AnswerverifiedShow Answer

Critical insurance illness is gaining recognition in Canada as a valuable insurance tool.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Disability income benefits begin on the 10^thday you are disabled.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified