LOMA 281 Module 3 Study Guide with Complete Solutions
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Course
LOMA 281
Institution
LOMA 281
LOMA 281 Module 3 Study Guide with
Complete Solutions
Waiver of premium for disability (WP) Benefit - Answer️️ -A supplemental life
insurance policy benefit under which the insurer promises to give up—to waive—its right
to collect premiums that become due while the insured is totally di...
• The policyowner's inability to perform the essential duties of any occupation for which
she is reasonably entitled by education, training, or experience after the first two years
of disability
Disability Income Benefit - Answer✔️✔️-A supplemental life insurance policy benefit that
provides a monthly income benefit to the policyowner-insured if she becomes totally
disabled while the policy is in force.
- 3- 6 month waiting period
- some for riders provide a partially disabled benefit
Identify the supplemental disability benefit rider with its example.
The UL insurance policy Drew Stephens owns on his life includes a rider that will pay
him a monthly benefit if he becomes totally disabled.
a. Disability income benefit rider
b. Waiver of premium for payor rider
c. Waiver of premium for disability rider - Answer✔️✔️-A.
A rider on Mary Margaret Satterfield's insurance policy specifies that her insurer will pay
her renewal premiums if she becomes disabled.
a. Disability income benefit rider
b. Waiver of premium for payor rider
c. Waiver of premium for disability rider - Answer✔️✔️-C.
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