Canadian Consumers Are Generally Unaware That Long-Term Care Insurance Even

question 69

True/False

Canadian consumers are generally unaware that long-term care insurance even exists.

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Definitions:

Secured Creditor

A creditor with the benefit of a security interest in assets of the debtor, giving them a preferential position in the event of the debtor's insolvency.

Possession

The state or fact of owning, controlling, or having something in one's custody, legally or otherwise.

Enforceable Security Interest

A legal claim or lien on collateral that can be secured through judicial action if necessary.

Written Security Agreement

A legally binding document that creates a security interest, giving the lender a right to seize collateral if the borrower fails to meet the obligations of the loan.