PSI EXAM Questions and Answers

During which period of a Disability Income Policy is coverage effective but during which no benefits will be paid under the policy? - ANSWER-Probationary period All of the following are common exclusions from loss found in disability income policies EXCEPT for that incurred while - ANSWER-commiting a misdemeanor What is the primary advantage for obtaining a reinstatement of a policy rather than obtaining a new one? - ANSWER-insured original issue age is used How does a noncancelable policy differ from a guaranteed renewable policy? - ANSWER-With the noncancelable policy the insurer may increase premiums only based on the terms of the policy. What does first dollar coverage mean? - ANSWER-As soon as covered medical expenses are incurred, the policy begins to pay.