Elena has been a bookkeeper for a local farm equipment assembly business for 3 years and she
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Question:
Elena has been a bookkeeper for a local farm equipment assembly business for 3 years and she has been a member of the group insurance plan during that time. The group plan offers short-term and long-term disability (STD and LTD). Elena wants to know when her benefit payments would start for STD should she become disabled as a result of illness. Which of the following statements about STD benefit payments is correct? | ||
a) | The STD waiting period will be 30 days before STD benefits will be paid. | |
b) | STD will pay a first-day benefit if the plan is co-ordinated with employment insurance (EI). | |
c) | STD payments will be made after LTD coverage expires. | |
d) | The STD waiting period is longer when the disability is a result of an accident at work. |
Surinder is 64 years old and is contemplating taking a two-month long trip to Latin America. Surinder has heard about the perils of having a medical emergency while travelling and has met with an insurance agent to get a quote for travel insurance. Which of the following would cause Surinder’s premium to increase from what he was quoted by his agent?
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a) | i and ii | |
b) | i and iii | |
c) | ii and iv | |
d) | iii and iv |
Carter recently applied for a disability insurance policy and during the application process he failed to inform the insurer that he already had existing disability coverage. Carter was hoping to get additional coverage beyond 60% of his current income. When Carter files a claim, the insurer denies his claim because they were able to access the information about his existing coverage. How did the insurer obtain the information about Carter's existing coverage? | ||
a) | through the Medical Insurance Bureau | |
b) | through the Inspection Report | |
c) | through the Agent’s Investigation | |
d) | through the Attending Physician’s Statement |
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