Test Your Disability Insurance IQ!
Know the answers before purchasing your disability insurance policy
1. What’s your most valuable possession?
- Your home
- Your car
- Your jewelry
- Your ability to earn an income
2. What are the odds that you’ll become disabled for one year or longer before you reach
age 65?
- 1 in 3
- 1 in 5
- 1 in 7
- 1 in 10
3. If you become disabled, how much of your gross income will social security replace?
- 50 percent
- 67 percent
- 75 percent
- 33 percent
4. What percentage of disabilities are caused by illness such as cancer, Alzheimer’s, or
heart disease?
- 50 percent
- 20 percent
- 28 percent
- 75 percent
5. True or False: People who have chronic illness such as Diabetes cannot get
disability insurance.
- True – Coverage is impossible to secure
- False – Coverage is available, but at a higher premium
- False – Coverage is available but the pre-existing condition is usually excluded
- True and False – it is available but only to those who are age 35 or younger
6. When you become disabled, your expenses …
- Stay constant – the same as before you become disabled
- Go up because you require added medical and daily living assistance
- Go down because you no longer have to buy gas and lunches out
- Are completely covered by Social Security
7. Of the following scenarios, which is most likely to happen if you’re age 65 or younger?
- You’ll get in a serious auto accident
- Your home will catch on fire
- You will die
- You will become disabled
8. Which is the least expensive insurance on a cost-per-dollar-protected basis?
- Car insurance
- Homeowners insurance
- Boat insurance
- Disability insurance
9. When you purchase a disability policy, which disability definition is the best?
- Own occupation
- Any occupation
- Modified own occupation
- Gainful occupation
10. When you purchase a disability policy, which renewal provision is the best?
- Conditionally renewable
- Guaranteed renewable
- Non-cancelable and guaranteed renewable
- Always renewable
Answers
1. d 2. b 3. d 4. d 5. c 6. b 7. d 8. d 9. a 10. c
Score: 9 - 10
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Score 6 – 8
You’re an aspiring Disability Insurance Student! Learn further how to protect your dreams, lifestyle and income in our Disability Insurance Education Center! Then, Get a Disability Insurance Quote today!
Score 0 - 5
Good try! You are on the right path. Contact us anytime if you have questions or concerns about disability insurance. Increase your disability insurance IQ by reading through the articles in our Disability Insurance Education Center! Find out the importance of protecting your dreams, lifestyle and income and discover how disability insurance is your solution.