保险学原理chapter7

1、SupplementaryBenefitsChapterOutlineSupplementaryDisabilityBenefitsAccidentBenefitsAcceleratedDeathBenefitsBenefitsforAdditionalInsuredsInsurabilityBenefitsSupplementaryDisabilityBenefitsWaiverofPremiumforDisabilityBenefitsWaiverofpremiumforpayorBenefitsDisabilityincomebenefitsWaiverofPremiumforDisabilityBenefitsTheinsurerpromisestogiveupitsrighttocollectrenewalpremiumsthatbecomeduewhiletheinsuredistotallydisabled.WhatisTotalDisability?Theinsured’sinabilitytoperformtheessentialactsofhe。

2、rownoccupationoranyotheroccupationforwhichsheisreasonablysuitedbyeducation,training,orexperience.WaiverofPremiumforDisabilityBenefitsIfthepolicyistheonethatbuildscashvalue,thecashvaluewillcontinuetoincreasejustasifthepolicyownerpaidthepremium.Inthecaseofaparticipatingpolicy,theinsurancecompanycontinuestopaypolicydividendsasifthepolicyownerwerepayingpremiums.WaiverofPremiumforDisabilityBenefitsSomelimitscontain3-6monthswaitingperiods.Beavailabletocoveronlydisabilitiesthatbeginduringaspecifieda。

3、gespan.Theintervalatwhichpremiumpaymentsareduecannotbechanged.Excludesomerisksfromrider’scoverageWaiverofPremiumforPayorBenefitIsdesignedforthird-partypolicies,suchasjuvenileinsurancepolicies.Ajuvenileinsurancepolicyisapolicythatisissuedonthelifeofachildbutisownedandpaidforbyanadult,usuallythechild’sparentsorlegalguardian.WaiverofPremiumforPayorBenefitDefinitiontheinsurancecompanywaiveitsrighttocollectapolicy’srenewalpremiumsifthepolicyowner-thepersonresponsibleforpayingpremiums-diesortobecom。

4、estotallydisabled.DisabilityIncomeBenefitProvidesamonthlyincomebenefittothepolicyowner-insuredifshebecomestotallydisabledwhilethepolicyisinforce.Themonthlyincomebenefitisastatedamount.DisabilityIncomeBenefitExamplePaxtonHaymeswasthepolicyowner-insuredofa$150,000lifeinsurancepolicythatincludedadisabilityincomebenefitrider.Theriderstatedthat,ifPaxtonbecometotallydisabled,thentheinsurancecompanywoldpayhimamonthlybenefitof$10per$1000oflifeinsurancecoverageduringtheperiodofdisability;theincomebene。

5、fitwouldbeginthreemonthsaftertheonsetofadisability.whilethepolicywasinforce,Paxtonbecamedisabledasdefinedinthedissabilityincomebenefitrider.Twoyearslater,hediedasaresultofhisdisability.DisabilityIncomeBenefitAnalysisthreemonthsafterhebecamedisabled,Paxtonbecameeligibletoreceiveadissabilityincomebenefitof1500permonth.uponPaxtondeath,thepolicy’sdeathbenefitbecamepayabletothenamedbeneficiary.AccidentBenefitsAccidentalDeathBenefitDismembermentBenefitAccidentalDeathBenefitsIftheinsureddiesasares。

6、ultofanaccident,theinsurancecompanywillpaythenamedbeneficiaryanamountofmoneyinadditiontothebasicdeathbenefitprovidedbythelifeinsurancepolicy.Thisadditionalsumisoftenequaltothepolicy’sfaceamount.Exclusionsandsomelimitations:DismembermentBenefitTheinsurerwillpayastatedbenefitamountifanaccidentcausestheinsuredtolosetwolimbsorsightinbotheyes.AcceleratedDeathBenefitsProvidethatapolicyownermayelecttoreceiveallorpartofthepolicy’sdeathbenefitbeforetheinsured’sdeathifcertainconditionaremet.Terminali。

7、llnessbenefitDreadDiseaseBenefitlong-termcarebenefitTerminalillnessbenefitIsabenefitunderwhichtheinsurerpayaportionofthepolicy’sdeathbenefittoapolicyowneriftheinsuredsuffersfromaterminalillnessandhasaphysician-certifiedlifeexpectancyof12monthsorless.DreaddiseasebenefitTheinsureagreestopayaportionofthepolicy’sfaceamounttoapolicyowneriftheinsuredsuffersfromoneofanumberofspecifieddiseases.Long-termbenefitIspayableasamonthlybenefittoapolicyowneriftheinsuredrequiresconstantcareamedicalcondition.。

8、BenefitsforadditionalinsuredsSpouseandChildren’sinsuranceriderchildren’sinsuranceridersecondinsuredriderInsurabilitybenefitsGuaranteedinsurabilitybenefitpaid-upadditionsoptionbenefit。