Part 1

• Explain the various definitions of disability that are found in disability-income insurance.
• Explain the following disability insurance income provisions:Residual disability
• Benefit period
• Elimination period

Part 2

• A common method of determining the amount of life insurance life insurance to purchase is called the needs approach. Explain the following needs for a head of the household:Income needs
• Special needs
• Cash needs
• Explain the capital retention approach for determining the amount of 410 life insurance owned.
• Briefly explain the characteristics of the following types of managed care plans:Health maintenance organization (HMO) plans
• Preferred provider organization (PPO) plans
• Point-of-service (POS) plans