According to the Time Payment of Claims provision, how frequently must an insurer pay Disability Income benefits?

Under the Time Payment of Claims provision, insurers are typically required to pay Disability Income benefits on a monthly basis. This standard aligns with most policyholders' financial needs, as monthly expenses, such as rent or mortgage payments, utilities, and other living costs, are generally incurred on a monthly cycle.

By stipulating monthly payments, the provision ensures that beneficiaries have a consistent and predictable source of income to help manage these ongoing expenses during their period of disability. This frequency also helps to provide a clearer and more manageable budgeting process for those receiving the benefits, thus supporting their financial stability.

Other options such as weekly or quarterly payments do not align with the common practice for Disability Income benefits, as they do not adequately match the typical flow of individual financial obligations, and annual payments would be impractical in covering immediate monthly needs.