Purchasing ________ Insurance Is a Relatively Low Cost Way of Protecting

question 223

Multiple Choice

Purchasing ________ insurance is a relatively low cost way of protecting yourself from lost income due to an accident or prolonged illness.

• A) flexible term
• B) health
• C) contingent annuity
• D) disability

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Definitions:

Few Exceptions

A small number of instances or cases that do not follow the general rule.

HDC

Stands for Holder in Due Course, referring to a party that has acquired a negotiable instrument in good faith and for value, thus having certain rights above the original parties.

Payee

The individual or entity to whom a payment is to be made or who receives the payment.

Note

A written record or reminder, often used in contracts or financial transactions to denote terms, obligations, or agreements.