保险学原理chapter7.pptVIP

Supplementary Benefits Chapter Outline Supplementary Disability Benefits Accident Benefits Accelerated Death Benefits Benefits for Additional Insureds Insurability Benefits Supplementary Disability Benefits Waiver of Premium for Disability Benefits Waiver of premium for payor Benefits Disability income benefits Waiver of Premium for Disability Benefits The insurer promises to give up its right to collect renewal premiums that become due while the insured is totally disabled. What is Total Disability?The insured’s inability to perform the essential acts of her own occupation or any other occupation for which she is reasonably suited by education, training ,or experience. Waiver of Premium for Disability Benefits If the policy is the one that builds cash value, the cash value will continue to increase just as if the policyowner paid the premium. In the case of a participating policy, the insurance company continues to pay policy dividends as if the policyowner were paying premiums. Waiver of Premium for Disability Benefits Some limitscontain 3-6 months waiting periods. Be available to cover only disabilities that begin during a specified age span.The interval at which premium payment s are due cannot be changed.Exclude some risks from rider’s coverage Waiver of Premium for Payor Benefit Is designed for third-party policies, such as juvenile insurance policies. A juvenile insurance policy is a policy that is issued on the life of a child but is owned and paid for by an adult, usually the child’s parents or legal guardian. Waiver of Premium for Payor Benefit Definitionthe insurance company waive its right to collect a policy’s renewal premiums if the policyowner-the person responsible for paying premiums-dies or to becomes totally disabled. Disability Income Benefit Provides a monthly income benefit to the policyowner-insured if she becomes totally disabled while the policy is in force. The monthly income benefit is a stated amount. Disability Income Benefit