Disability Insurance Products and Principles
Author: Paul J. Winn
| CPE Credit: |
3 hours for CPAs |
Disability Insurance Products and Principles discusses the principal disability products: disability income, income replacement, business overhead expense and disability buyout. It examines disability policy definitions and provisions, principal disability rider benefits, disability income underwriting, primary sources of disability income benefits, special coverage disability policies and taxation of disability coverage.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: June 2022
Designed For
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Topics Covered
- Introduction to Disability Insurance
- Disability Policy Definitions and Provisions
- Principal Disability Rider Benefits
- Disability Income Underwriting
- Primary Sources of Disability Income Benefits
- Special Coverage Disability Insurance Policies
- Taxation of Disability Coverage
Learning Objectives
- Recognize the various definitions of disability used by insurers;
- Recognize how to distinguish the important differences between the principal renewability provisions
- Identify the benefits provided by Social Insurance Benefits riders, Purchase Option riders, and Return of Premium riders
- Identify the nature of financial and medical disability insurance underwriting
- Recognize how to explain occupational classification
- Describe the important sources of disability income benefits, including those provided by federal and state government programs, employer-related plans and individually purchased policies
- Recognize the tax treatment of disability premiums and benefits
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Specialized Knowledge and Applications (3 hours)
Program Prerequisites
None
Advance Preparation
None
