Personal Risks and Insurance
Deliverable Length: 800–1,000 words
Part 1
- Explain the various definitions of disability that are found in disability-income insurance.
- Explain the following disability insurance income provisions:
- Residual disability
- Benefit period
- Elimination period
Part 2
- A common method of determining the amount of life insurance life insurance to purchase is called the needs approach. Explain the following needs for a head of the household:
- Income needs
- Special needs
- Cash needs
- Explain the capital retention approach for determining the amount of 410 life insurance owned.
- Briefly explain the characteristics of the following types of managed care plans:
- Health maintenance organization (HMO) plans
- Preferred provider organization (PPO) plans
Point-of-service (POS) plans
Answer Preview
The disability-income insurance has different policies where each policy is uniquely defined specifically to a particular type of disability. One of these is the own occupation coverage policy that defines disability as the inability to carry out essential duties and tasks relevant to a professional occupation…
(1115 Words)