Life Insurance Purchased by a Company with the Company as Sole

question 80

Multiple Choice

Life insurance purchased by a company with the company as sole beneficiary is

• A) key-person insurance.
• B) a surety bond.
• C) business interruption insurance.
• D) credit insurance.

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Definitions:

Assumption of Risk

A legal defense in tort law where a person voluntarily exposes themselves to a known risk, potentially limiting their right to claim damages.

Plaintiff's Knowledge

The awareness that a plaintiff has or is expected to have about the facts and circumstances central to their legal claim or case.

Traditional Negligence Defenses

Defenses used in legal claims for negligence, including contributory negligence, comparative negligence, assumption of risk, and immunity, among others.

Severely Burned

An injury characterized by extensive damage to the skin and other tissues, often requiring medical intervention and characterized by varying degrees of pain, swelling, and blistering.