Disability Income Insurance | All Answers are 100% Correct
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Coming from an insurance point of view, which of the following is the main risk associated with disability? Loss of limbs Loss of income Decreased work skills Decreased mobility - ✔✔Loss of i... ncome Jonas has disability insurance through his employer. The employer pays 75% of the premium, and Jonas pays the other 25%. What is Jonas's tax liability for any benefits paid from the disability plan? Taxes must be paid on all benefits received No taxes are payable on any benefits received Taxes must be paid on 25% of the benefits received Taxes must be paid on 75% of the benefits received - ✔✔Taxes must be paid on 75% of the benefits received. Bryce purchased a disability income policy with a rider that guarantees him the option of purchasing additional amounts of coverage at predetermined times without requiring to provide evidence of insurability. What kind of rider is this? Guaranteed insurability rider Additional coverage rider Paid-up option rider Extended insurability rider - ✔✔Guaranteed insurability rider In what form do disability income policies typically pay benefits? Lump sum Periodic income Tax credit Annuity - [Show More]
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