Free Disability Income Insurance Practice Questions
Oregon Life, Accident & Health exam (series 12-03) — 35 practice questions.
Subtopics: Guaranty association, Relation of earnings, Purpose, Elimination period, Benefit period, Definition of disability, Residual disability, Probationary period, Presumptive disability, Recurrent disability, Any occupation, Business overhead expense, Disability buy-out, Cost of living adjustment, Social insurance supplement, Nonoccupational coverage, Waiver of premium, Future increase option, Disability benefit, Benefit amount, Total disability, Partial disability, Group disability, Social Security disability, Key employee DI, Occupational coverage
Read the Disability Income Insurance study guide
Sample questions & answers
1. For any one life, the Oregon Life and Health Insurance Guaranty Association protects disability insurance benefits up to:
$300,000
ORS 734.810(11)(b)(C) limits disability insurance benefits to $300,000 for any one life; long term care is also limited to $300,000.
2. Under ORS 743.465, the relation of earnings to insurance provision may not reduce the total monthly loss-of-time benefits under all coverage below the lesser of the sum of the monthly benefits specified or:
$200
The provision cannot reduce total monthly benefits below $200 or the sum of the monthly benefits specified, whichever is less, and may be used only in policies renewable to at least age 50 (or five years if issued after 44).
3. Disability income insurance is designed to replace:
A portion of earned income lost when disability prevents work
Disability income pays periodic benefits to replace part of the earnings lost during a covered disability.
4. The waiting period between the onset of a disability and the start of benefit payments is the:
Elimination period
The elimination (waiting) period is a form of time deductible before disability benefits begin.
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Practice: Disability Income Insurance
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
