A Contract That Pays the Insured a Specific Daily Amount

question 4

Multiple Choice

A contract that pays the insured a specific daily amount (based on scheduled limits) for services to assist with the activities of daily living is:

• A)Annuity insurance.
• B)Disability insurance.
• C)Long-term care insurance.
• D)Medical insurance.

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Definitions:

Statement of Activities

A financial report mostly used by non-profit organizations, displaying revenues, expenses, and changes in net assets for a specific period.