Under a Disability Income insurance policy, when an insured exercises a 'Guaranteed Insurability Option' (GIO) to increase their monthly benefit, which of the following is true?

Question: Under a Disability Income insurance policy, when an insured exercises a 'Guaranteed Insurability Option' (GIO) to increase their monthly benefit, which of the following is true?

Answer options:

• The insured must undergo a new medical examination.
• The premium for the additional coverage is based on the insured's original age at issue. ✅ The insured must provide evidence of earned income to justify the increased benefit.
• The rider can be exercised at any time regardless of the policyowner's age.

Correct answer: The insured must provide evidence of earned income to justify the increased benefit.

Explanation: A Future Insurability Option (FIO) or Guaranteed Insurability Option allows the insured to increase coverage at specific dates or life events without proving medical insurability (no medical exam), but they must prove their income justifies the higher benefit amount.