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Benefits Beginner: Disability Insurance

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1.
Before an insurance company will accept your disability insurance policy application, you must _______.
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Pass a physical. The physical is the first step in the process of being accepted.
2.
Disability insurance is designed to replace 100 percent of your income if you can't work due to illness or injury.
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False. It is designed to replace somewhat less than 100 percent.
3.
The cost of a disability insurance premium depends on _______.
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All of the above. All of these factors influence the cost of a policy.
4.
Disability insurance benefits are usually offered only through age _______.
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65. After age 65, Social Security coverage becomes available.
5.
If you purchase individual disability insurance, you must pay taxes on your benefits.
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False. However, benefits from an employer-funded policy are taxable.