Which of the Following Types of Disability Income Insurance Policies

question 100

Multiple Choice

Which of the following types of disability income insurance policies will only provide benefits if you can no longer perform the occupation you had at the time you became disabled?

• A)split-definition policy
• B)own-occupation policy
• C)unemployment insurance policy
• D)any-occupation policy

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Definitions:

Long-term Bank Loans

Long-term bank loans are borrowings from banks with repayment terms extending beyond one year, used for financing significant investments or operations.

Marketable Securities

Financial instruments that can be quickly converted into cash at a reasonably predictable price.

Capital Gains

The profit from the sale of assets or investments, such as shares or property, which exceeds the purchase cost.

Eligible Dividends

Dividends that are designated by corporations to be eligible for a lower tax rate in the hands of individuals, in certain jurisdictions.