How does Northwestern Mutual define a beginning date?

The date their disability starts paying out

What is disability from an insurance prospective?

Impairment that affects ability to work and earn income

What is the definition of Regular Occupation?

Individual's occupation at the time of disability

Which DI product helps the business meet financial obligations when an owner is disabled?

Disability Overhead Expense Insurance

If insured can perform 1 or more (not all) of the principle duties of the regular occupation...

They may be considered Partially Disabled

The insured is totally disabled when unable to perform the _________________.

Principle Duties of the Regular Occupation

If contract terms and premiums cannot be changed, which DI version is it?

Non-Cancellable Disability Income

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Disability Income

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Questions 10

Answers

1
Which DI market is most likely to feel like they can lapse their Disability policy?
Young Personal Market
Established Personal Market
Retirement Market
No one ever feels this way
2
Which loss of income would qualify for partial disability?
20% Investment Income
20% of Dividends
20% Commissions
10% Gross Salary
3
How does Northwestern Mutual define a beginning date?
The date they can no longer work
The date they must return back to work
The day they become disabled
The date their disability starts paying out
4
What is disability from an insurance prospective?
A serious impairment that limits your performance
Impairment that affects ability to work and earn income
Impairment that affects how fast your work
Impairment that affects how you speak
5
What is the definition of Regular Occupation?
The occupation at the time the insurance was purchased
Individual's occupation at the time of disability
The occupation that is written on the application
The individual's income
6
Which DI product helps the business meet financial obligations when an owner is disabled?
Disability Overhead Expense Insurance
Disability Key Person Insurance
Interim Term Disability Insurance
Disability Buy Out Insurance
7
If insured can perform 1 or more (not all) of the principle duties of the regular occupation...
They may be considered Totally Disabled
They may be considered Half Disabled
They may be considered Partially Disabled
They may be considered Fully Disabled
8
What is the first and most crucial stage of planning?
Protecting Income
Wealth Preservation
Savings for Retirement
Wealth Accumulation
9
The insured is totally disabled when unable to perform the _________________.
Job Duties of the Occupation
Job Title
Priciple Tasks of the Occupation
Principle Duties of the Regular Occupation
10
If contract terms and premiums cannot be changed, which DI version is it?
Interim Term Disability Insurance
Key Person Insurance
Non-Cancellable Disability Income
Guaranteed Renewable Disability Income

Disability Income Flashcards | StudBud