MATCHING: -A Feature That Returns a Portion of the Premiums If

question 31

Multiple Choice

MATCHING:
-A feature that returns a portion of the premiums if the insured cancels the insurance policy or allows it to lapse

• A)nursing home
• B)assisted living facility
• C)Social Security
• D)Supplemental Security Income
• E)Medicare
• F)Medicaid
• G)long-term care insurance
• H)inflation protection
• I)nonforfeiture benefit
• J)waiver of premium payment
• K)elimination period

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Definitions:

Common Stock

A form of investment that signifies a stake in a corporation, granting its owners the right to vote and participate in the profits of the company through dividends.

Net Assets

The difference between the total assets and total liabilities of an entity, representing the owners' equity.

Common Stock

A form of corporate equity ownership, representing a claim on a portion of the company's assets and earnings.

Amortization Expense

Amortization expense is the process of systematically allocating the cost of an intangible asset over its useful life, reflecting the consumption of the asset's economic benefits over time.