Which of the Following Is Not a Desirable Feature in a Long-Term

question 117

Multiple Choice

Which of the following is not a desirable feature in a long-term care policy?

• A)inflation protection
• B)optional renewability clause
• C)duration of benefits of 6 years
• D)coverage for Alzheimer's disease
• E)coverage for preexisting conditions

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Definitions:

Interest Rate

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.

Usury Laws

Legal statutes regulating the maximum interest rates that can be charged on loans, aimed at preventing predatory lending practices.

Interest Rates

The proportion of a loan charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Price Mechanism

The system by which the forces of supply and demand determine the prices of goods and services.