An Individual Is Considered Terminally Ill for Purposes of the Exclusion

question 53

True/False

An individual is considered terminally ill for purposes of the exclusion for accelerated death benefits if a physician certifies that he is reasonably likely to die within 36 months.

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Definitions:

Company

A business or association of persons engaged in commercial, industrial, or professional activities, either incorporated or unincorporated.

Return on Investment (ROI)

A measure of the profitability of an investment, expressed as a percentage of the initial amount invested.

Division's

Relates to a separate part of a larger organization, typically responsible for a specific operation or function.

Residual Income

Income that remains after all costs of capital have been deducted from net operating income, a measure of profitability.