If You Are 35 Years Old Now,your Chances of Experiencing

question 140

Multiple Choice

If you are 35 years old now,your chances of experiencing a three-month or longer disability before you reach age 65 are _____percent,according to the National Association of Insurance Commissioners.

• A)25%
• B)30%
• C)40%
• D)50%
• E)75%

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Definitions:

Interest Cost

The total interest expense associated with borrowing money, including the amortization of any discount or premium, relevant to the period in which it is incurred.

Prior Service Cost Amortization

The process of allocating the cost of retroactively awarded benefits of an employee's pension plan over several years.

Projected Benefit Obligation

Projected Benefit Obligation (PBO) is a measure of the estimated total amount a pension plan needs to cover future pension benefits owed to employees, based on expected future salary increases.