There are various types of individual disability policies, each defined by the benefits it offers. One type of disability policy is the guaranteed issue policy. Few insurers offer guaranteed issue disability plans. These plans involve individually issued policies that are alternatives to traditional long$-$term disability group insurance coverage, and are available to groups in the low risk occupational classes of executives and professionals. These plans guarantee coverage for members of the target group. Due to the guaranteed nature of the plans, they are subject to a number of possible restrictions.What are some of the factors that these restrictions are based on$?\; Explain.$

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The restrictions on guaranteed issue disability plans are mainly designed to manage the risks associated with offering these types of policies as they ... View the full answer