If a Long-Term Care Policy Is Purchased Prior to Age

question 125

Multiple Choice

If a long-term care policy is purchased prior to age ____,the buyer faces a significant risk because inflation may render the daily benefit woefully inadequate when care is ultimately needed.

• A)60
• B)50
• C)40
• D)30

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Definitions:

ATM Machines

Automated Teller Machines, which are electronic banking outlets that allow customers to complete transactions without the need for a branch visit.

Great Recession

A significant decline in economic activity spread across the economy, lasting from late 2007 to mid-2009, known for being the most severe economic downturn since the Great Depression.

Overdraft Fees

Charges applied by financial institutions when spending exceeds the amount available in a checking account.

Service Charge Income

Revenue earned by banks or businesses for providing specific services to their clients or customers.