The Purpose of Disability Income Insurance Is to Replace a Portion

question 48

True/False

The purpose of disability income insurance is to replace a portion of salary or wages lost due to injury or illness that is not work related.

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Definitions:

Straight Commission

A compensation method where pay is based solely on sales performance, typically a percentage of the sales generated.

Combination Approach

A strategy that combines various methods, techniques, or practices to achieve a more effective outcome or solution.

Straight Salary

A fixed regular payment made by an employer to an employee, regardless of the employee's performance or hours worked.

Exclusive Distribution

A distribution strategy where a supplier grants exclusive rights to a single wholesaler or retailer to sell its products in a specific territory.