Insurance Licensing Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 6 Topic 1 Discussion
Insurance Licensing Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 6 Topic 1 Discussion
In disability income insurance, when it can be shown that an individual would NOT suffer a substantial loss of income upon becoming disabled, an insurer will usually:
Disability income insurance requires insurable interest based on potential income loss. If no substantial loss would occur, underwriting guidelines permit the insurer to decline coverage. Exact extract: “Disability income protection shall not be issued where no substantial loss of earned income would result from disability.”
[References: Virginia Life, Annuities, and Health Licensing Examination Study Guide—Disability Income Underwriting., ===========, ]
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