LLQP (Life Licence Qualification Program) Practice Exam · Question
In a disability insurance policy, the period of time between the onset of disability and the beginning of benefit payments is called the:
The elimination period (or waiting period) acts as a deductible in time. The longer the elimination period, the lower the premium for the disability insurance p
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Question: In a disability insurance policy, the period of time between the onset of disability and the beginning of benefit payments is called the:
Answer options:
- Benefit period
- Grace period
- Contestability period ✅ Elimination period
Correct answer: Elimination period
Explanation: The elimination period (or waiting period) acts as a deductible in time. The longer the elimination period, the lower the premium for the disability insurance policy.
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- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
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