Chapter 6 Review
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Chapter 6 Review
Special coverage disability policies are available for both business and non-business application. Business application of specialty disability policies provide benefits to pay a business owner's overhead expenses, fund a disability buy-sell agreement and compensation an employer for the loss of a key person's services as a result of disability.
Non-business disability insurance may be used to provide non-occupational coverage, especially for individuals in high-risk occupations. In addition, disability insurance is often used to provide debt protection -- especially in the case of a home mortgage.
Chapter 6 Review Questions
Rent
Utilities
*Inventory
Office supplies
12 months
24 months
60 months
I & II only
*I & III only
II & III only
I, II & III
30 days
90 days
6 months
*24 months
In a lump-sum
In installments
*Either a or b
Neither a nor b
Owner
*Insured
Beneficiary
Premium payor
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