LLQP Accident & Sickness · Component 2.1 · 30% of the exam
The 'survival period' in a CI policy:
- AIs the waiting period before the first premium falls due after the policy has been issued
- BDoes not exist in Canadian policies, which pay in full on the date of diagnosis
- CIs the benefit period over which the lump sum is paid to the insured in monthly instalments
- Is the period the insured must survive after diagnosis for the benefit to be payable
Correct answer: D) Is the period the insured must survive after diagnosis for the benefit to be payable
The survival period keeps CI distinct from life insurance. Some conditions have longer survival requirements (for example, certain strokes require persistent deficits).
Why the other options are wrong
- APremiums are unrelated to the survival period.
- BIt is a standard provision in Canadian CI contracts.
- CCI pays once; there is no benefit period.
Exam tip
Survival period: live 30 days (or as stated) past diagnosis, then the benefit pays.
Common mistake
Claiming CI pays 'the moment you are diagnosed'.
What this tests
CISRO competency component 2.1 — Analyze the available products that meet the client's needs — which is weighted at 30% of the Accident & Sickness module. Written against the published curriculum.
More from component 2
- A group benefits booklet lists AD&D coverage alongside life and LTD. The AD&D benefit pays:
- A hospital indemnity (hospital cash) policy pays:
- Employment Insurance sickness benefits are available to:
- Which government program coordinates with an individual DI policy through a possible offset AND also affects the definition of insurable income?
- A group plan's 'eligibility waiting period' (probationary period) is:
- A CI policy that is 'convertible' allows the insured to:
Practice the whole Accident & Sickness module
Timed sets weighted like the exam, and review of every question you miss. Free to start.