The Case in Point on Terminal Illness and Life Insurance

question 65

Multiple Choice

The Case in Point on Terminal Illness and life insurance discusses an industry called the:

• A)viatical industry, which provides terminally ill people with access to quick cash while they are still alive.
• B)viatical industry, which sells life insurance to sick people.
• C)computer industry, which traces the genealogy of sick people.
• D)life partners industry, which helps people with AIDS find long-term health-care providers.

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Definitions:

Economic Efficiency

A situation where resources are allocated in such a way that maximizes the production of goods and services, minimizing waste and inefficiency in an economy.

Sherman Act

A landmark federal statute in the U.S. that prohibits monopolistic practices and promotes competition among businesses.

McCarran-Ferguson Act

A U.S. federal law enacted in 1945 that exempts the business of insurance from most federal regulation, leaving regulation primarily to the states.

Robinson-Patman Act

A 1936 U.S. law aimed at preventing anticompetitive practices by producers, specifically addressing price discrimination.