Please Define the Following Key Terms

question 56

Short Answer

Please define the following key terms.
-Equal-Field System

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Definitions:

Double Indemnity

An optional provision in life insurance policies that provides that the insurer will pay double the amount due to a beneficiary if the insured dies from accidental causes.

Beneficiaries

Individuals or entities entitled to receive benefits or assets under the terms of a will, trust, insurance policy, or other financial instrument.

Auto Accident

An auto accident refers to a collision involving one or more vehicles, often resulting in property damage, injury, or death.

Permanently Disabled

A condition where an individual is unable to engage in any substantial gainful activity due to a physical or mental impairment that can be expected to result in death or has lasted or can be expected to last for a continuous period of not less than 12 months.