Exam (elaborations)

NC Aflac State Exam Study Guide with Complete Solutions

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Aflac Insurance

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Aflac Insurance

NC Aflac State Exam Study Guide with Complete Solutions What is the purpose of Disability Income Insurance? - Answer️️ -Provides income payments when the insured is unable to work because of sickness or injury What are the two major types of losses? - Answer️️ -1. Loss of Income (disa...

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nc aflac state exam study guide with complete solu

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NC Aflac State Exam Study Guide with
Complete Solutions

What is the purpose of Disability Income Insurance? - Answer✔️✔️-Provides
income payments when the insured is unable to work because of sickness
or injury

What are the two major types of losses? - Answer✔️✔️-1. Loss of Income
(disability)

2. Hospital/Medical expenses

How often does Disability Income policies pay out benefits? - Answer✔️✔️-
Provides weekly or monthly benefits to replace salary/wages lost while
sick/injured

What is the maximum amount of benefits that is typically paid out for in a
Disability Income policy? - Answer✔️✔️-Typical maximum benefits will be
50% to 70% of gross income

What can a Disability Income policy also be referred to as? - Answer✔️✔️-
Loss of time or loss of income policies

How much of a Disability Income policy can be taxable? - Answer✔️✔️-Only
the amount that the employer pays

Total disability can be defined as what? - Answer✔️✔️-May arise from either
illness or injury related occurences

1

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What is the least restrictive total disability? - Answer✔️✔️-"Own" occupation

What is the most restrictive total disability? - Answer✔️✔️-"Any" occupation

What does "own occupation" mean? - Answer✔️✔️-The inability to perform
duties of his/her OWN occupation

What does "any occupation for which the insured is reasonably suited"
mean? - Answer✔️✔️-The inability to perform duties of any occupation for
which he/she is reasonable suited for by EXPERIENCE

What does "any occupation" mean? - Answer✔️✔️-The inability to perform
duties of ANY OCCUPATION

What protects the company from malingering? - Answer✔️✔️-Combination
definitions (own + any = combined)

What is Presumptive Disability? - Answer✔️✔️-The obvious total,
permanent disability requiring no demonstration of the inability to work
(i.e., loss of sight, hearing, speech, or the loss of two or more limbs)

What is the only form of disability you can collect without being under a
doctors care? - Answer✔️✔️-Presumptive disability

What is Partial Disability? - Answer✔️✔️-The inability to perform one or
more duties of an occupation and working less than half of business time

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How much is paid out for a Partial Disability? - Answer✔️✔️-Usual benefit
will be 50% of the amount payable for total disability, and are paid for a
specified maximum amount of time (i.e., 6 months)

Partial Disability State Exam question: If X returns to work, but only earns
40% of his original pay of $2000 a month, what will he be receiving from
residual disability? - Answer✔️✔️-$1,200

(cut in pay percentage = 60%)

So, 60% x $2000 = $1,200

What is Recurrent Disability? - Answer✔️✔️-The onset of disability, after
recovery from a preceding disability period, resulting from the same
accident/illness

For Recurrent Disability, it will be treated as a continuation of the previous
disability if it occurs within ___________ . - Answer✔️✔️-Six months

(also, will not have to re-wait the Elimination Period)

For Recurrent Disability, when will the individual have to wait the
Elimination Period over again? - Answer✔️✔️-If the reoccurring
accident/illness takes place longer than 6 months

What is the Elimination (waiting) Period? - Answer✔️✔️-The time from
onsite of a disability until benefit payment begins or the number of days
that an individual must be disabled before they will be paid (i.e., 15 days,
30 days, etc.)

3

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NC Aflac State Exam Study Guide with Complete Solutions

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