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
  • 800–1,000 words (3–4 pages)