1-meet Wayne Penny needs. have been married for 18 years, both are non-smokers, in good health, and in their mid 40s. Wayne operates a private equipment leasing company with a staff of 10 people who cover the labour aspects of the business Penny is a well-established medical transcriber and works exclusively over the internet . Both Wayne and Penny's parents lived into their 90s and there is no family history of health issues outside of the norm. They approach you about disability insurance and they are Interested in any occupation " coverage . Given the facts in this scenario , which of the following statements is correct?

The contract will be considered a non-standard risk and will be rated.

The contract will be rated and premium rating will be imposed .

The contract will be considered a standard insurable risk and will not be rated .

The contract will be considered a standard insurable risk but a premium rating will be imposed

2-Ban Wong (27) is a civil engineerBan is single and in good health. However, Ban has a family history of heart disease and high blood pressure . Ban's annual medical did not identify any such issues, but he wants to be cautious and secure his future. He is considering disability insurance and he wants protection that is guaranteed to renew each year until age 65 and will have an "any occupation " definition of disability . Ban is willing to accept premium modifications by the insurer that affect the entire class of policies in exchange for a lower premium Which of the following is the option which BEST describes the insurance protection that Ban is seeking ?

guaranteed renewable policy

cancellable policy

non -cancellable policy

guaranteed -issue policy

3-Grant (42) software programmer who makes $90,000 annuallyJust recently Grant purchased a disability insurance () with a future purchase option (FPO) rider. The policy has a 60-day walting period, a 10year benefit period, and pays a monthly benefit of $4,000 in the event of Grant's disability . Which of the following statements CORRECTLY describes what will happen given Grant's policy and circumstances ?

Any use of the FPO will be subject to medical underwriting at the time the option Is exercised and may not be available if Grant has a change in health

At his current level of income , Grant will not be able to exercise the FPO rider until he recelves an increase in salary .

The maximum amount Grant can obtain under the FPO is an additional $500 per month , bringing his total monthly benefit to $ 4,500 .

The maximum amount Grant can obtain under the FPO is an additional $1,000 per month , bringing his total monthly benefit to $5,000 .

4-You meet with Brandon (30) to discuss his insurance needs. Brandon is married to Sheila and they have a son, Connor , who is 5 years old. Brandon is contractor and the owner of his own construction company Brandon does not have group Insurance , but he and Sheila have mortgage insurance on their mortgage . In the event of an accident or sickness , Brandon feels that he would be covered by the mortgage insurance . Brandon and Sheila have enough income to pay their obligations , but they live pay-cheque to paycheque and do not have any savings Given the known factors about Brandon which of the following is an accurate assessment ?

Brandon has a low risk of disability and his existing mortgage coverage should be adequate .

Brandon has a high risk of disability and his existing mortgage coverage may not be adequate

Brandon has a low risk of disability but his existing mortgage coverage may not be adequate .

Brandon has a high risk of disability but his existing mortgage coverage should be adequate