Although He Has a Good Health Insurance Policy, Shaun Is

question 217

Multiple Choice

Although he has a good health insurance policy, Shaun is concerned that a serious accident or lengthy illness would still be devastating to his family because of the lost income and other expenses not covered by his policy. Shaun would probably be interested in obtaining

• A) disability insurance.
• B) a premium waiver provision.
• C) health extension coverage.
• D) a rider on his homeowner's policy.

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Definitions:

Statement of Cash Flows

A financial report detailing the cash inflows and outflows from operating, investing, and financing activities of a company over a period.

Borrowing

The act of receiving something from someone with the intention of returning it or its equivalent.

Increasing Assets

Refers to the growth or escalation in the value of assets owned by a business or individual.

Accrued Expenses

Costs that have been incurred but not yet paid for, recognized under the accrual basis of accounting.