A disability income definition under which the insured is considered totally disabled only if unable to perform the duties of ANY occupation for which they are reasonably suited by education, training, or experience, is known as the:
A. Own occupation definition
B. Any occupation definition
C. Residual disability definition
D. Presumptive disability definition
Source: NM PSI Candidate Information Bulletin, Series 18-27, Disability Income and Related Insurance
A disability income rider that automatically increases the insured's benefit amount over time to help the benefit keep pace with inflation is the:
A. Future increase option rider
B. Cost of living rider
C. Waiver of premium rider
D. Residual disability rider
Source: NM PSI Candidate Information Bulletin, Series 18-27, Disability Income and Related Insurance
A small business purchases a policy that reimburses fixed overhead expenses, such as rent and utilities, if the business owner becomes disabled and cannot work. This is:
A. Key employee disability income insurance
B. Disability buy-sell insurance
C. Business overhead expense insurance
D. Short-term disability insurance
Source: NM PSI Candidate Information Bulletin, Series 18-27, Disability Income and Related Insurance
Under Social Security disability insurance, a claimant's disability must generally be expected to last at least how long, or result in death, to qualify for benefits?
A. 30 days
B. 90 days
C. 6 months
D. 12 months
Source: NM PSI Candidate Information Bulletin, Series 18-27, Disability Income and Related Insurance
A managed care organization that generally requires members to select a primary care physician and obtain referrals to see specialists, in exchange for typically lower out-of-pocket costs, is best described as a(n):
A. Health Maintenance Organization (HMO)
B. Fee-for-service indemnity plan
C. Preferred Provider Organization (PPO)
D. Point-of-Service (POS) plan
Source: NM PSI Candidate Information Bulletin, Series 18-27, Medical Plans
