LLQP Accident & Sickness · Component 4.2 · 10% of the exam
A claimant receiving DI benefits asks whether she must keep paying premiums. The agent should explain:
- APremiums are waived from the first day of disability, whether or not the claim has been approved
- BYes, always, since a disability policy has no provision for premiums to stop while the insured is alive
- CPremiums double during a claim, since the insurer's risk has increased now that a disability has occurred
- After the waiver qualifying period, premiums are waived while benefits continue and are usually refunded
Correct answer: D) After the waiver qualifying period, premiums are waived while benefits continue and are usually refunded
Waiver is a claims-stage benefit. The agent should ensure it is applied.
Why the other options are wrong
- AWaiver begins after the stated period.
- BWaiver applies after the qualifying period.
- CPremiums do not increase.
Exam tip
Waiver after the qualifying period; refund of premiums paid in the interim.
Common mistake
Failing to check that the insurer has applied waiver.
What this tests
CISRO competency component 4.2 — Provide customer service during the validity period of the coverage — which is weighted at 10% of the Accident & Sickness module. Written against the published curriculum.
More from component 4
- The agent's role in the claims process is to:
- A client with a non-cancellable DI policy stops paying premiums after a dispute with the insurer about a claim. The agent should warn that:
- When a client moves to another province, the agent should:
- A client asks to reduce the waiting period on his in-force disability policy. The agent should explain that the change:
- A client's disability policy lapsed six weeks ago for non-payment. The agent should:
- A client on claim asks whether she must keep paying premiums. The accurate answer depends on:
Practice the whole Accident & Sickness module
Timed sets weighted like the exam, and review of every question you miss. Free to start.