Disability Income Insurance Plans Can Offer Benefits

question 16

Multiple Choice

Disability income insurance plans can offer benefits

• A) For only a few years.
• B) Until age 65.
• C) For life.
• D) All of these are possibilities.
• E) None of these is correct.

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Definitions:

Uncollectible Receivables

Amounts owed to a company from customers that are considered unlikely to be collected.

Credit Balance

The amount appearing on the credit side of an account, indicating the total credits exceed the total debits.

Formal Written Instrument

A legally binding document or contract clearly outlining the terms and conditions agreed upon by the parties involved.

Credit

The trust which allows one party to provide resources to another party wherein the second party does not reimburse the first party immediately but promises either to repay or return those resources (or other materials of equal value) at a later date.