You meet Wayne and Penny to discuss their insurance needs. They have been married for 18 years, both are non-smokers, in good health, and in their mid-40s. Wayne operates a private equipment leasing company with a staff of 10 people who cover the labour aspects of the business. Penny is a well-established medical transcriber and works exclusively over the internet. Both Wayne and Penny's parents lived well into their 90s and there is no family history of health issues outside of the norm. They approach you about disability insurance and they are interested in "any occupation" coverage. Given the facts in this scenario, which of the following statements is correct?

a) The contract will be considered a non-standard insurable risk and will be rated.

b) The contract will be rated and a premium rating will be imposed.

c) The contract will be considered a standard insurable risk and will not be rated.

d) The contract will be considered a standard insurable risk but a premium rating will be imposed.

Answer rating: 100% (QA)

Answer is c Since they have no i... View the full answer