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All of the following statements concerning disability income insurance are correct EXCEPT: Premiums for disability income insurance coverage are a function of the insured's health, gender, age, and the level of income benefits provided by the policy. To qualify for disability income, one must become disabled while the policy is in force and remain so until the elimination (exclusion) period has ended. A policy that integrates with Social Security will reduce payable benefits by the amount of Social Security the disabled person is eligible to receive. The Social Security program requires the disabled person to wait 1 month before receiving benefits.

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jepessoa

Answer:

The Social Security program requires the disabled person to wait 1 month before receiving benefits.

Explanation:

The Social Security Disability Insurance (SSDI) benefits has two waiting periods:

  1. The first waiting period starts at the moment you file your claim to receive benefits from the program. The waiting time is variable until you obtain your onset date of disability (i.e. your request has been approved and you are legally disabled starting on that date).  
  2. The second waiting period is a five month long period before you start receiving any disability benefits from Social Security. This waiting period starts at your onset date of disability and you have to wait for five months before starting to receive any benefits.

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