Which of the Following Types of Insurance Will Enable You

question 14

Multiple Choice

Which of the following types of insurance will enable you to continue to pay the bills if your business should be closed down by damage due to fire, flood, or other catastrophe?

• A) Credit insurance
• B) Business interruption or loss-of-income insurance
• C) Key-person insurance
• D) General liability insurance

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Definitions:

Bequest

A gift of personal property by means of a will.

Beneficiaries

Individuals or entities entitled to benefits or proceeds from a will, insurance policy, trust, or other financial instruments.

Endowments

Funds or property donated as a source of income, where the principal is typically kept intact in perpetuity or for a defined time period.

Investment Income

Refers to the money earned from various investments, including dividends, interest, or capital gains from securities, real estate, and other assets.