BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Disability Insurance
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Major Medical Insurance
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Surgical Insurance
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Hospitalization Insurance
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Detailed explanation-1: -What is Disability Insurance? Disability insurance, as the name implies, is a sort of insurance that pays out if a policyholder is unable to work and earn an income due to a disability. In case of an accident or disease, such a policy can protect you financially if you become disabled as a result of it.
Detailed explanation-2: -Income protection insurance plans ensure that your income is protected so that your family remains secured at all times. These plans financially protect your loved ones in the case of an unfortunate event.
Detailed explanation-3: -The “Elimination Period” Definition The Elimination Period is defined as the period starting from the day you first become disabled and continuing for the period noted in the policy. This may be 90 days or 180 days or whatever the policy calls for. No Benefits Paid: During the EP, no benefits are paid.
Detailed explanation-4: -(a) TDB is payable to an employee who suffers employment injury (EI) or Occupational Disease and is certified to be temporarily incapable to work.
Detailed explanation-5: -A disabling injury is a work-related injury or illness that impairs the body’s functioning or prevents an employee from carrying out their usual work duties.