Discapacidad y Cuidado a Largo PlazoPregunta 491 de 716
Key-person disability income insurance pays its benefit to the:
a.Disabled key employee personally rather than to the business that owns and pays for the coverage
b.Key employee's family members
c.State disability fund
d.Business, to offset lost revenue and added costs while a vital employee is disabled
Explicación
Key-person disability insurance is owned by and payable to the business, providing funds to cover the lost productivity, replacement hiring, and other costs the company faces when an essential employee becomes disabled. The benefit does not go to the employee personally or to the family (that would be personal coverage), and it is not paid to a government fund. Like key-person life insurance, the business is the owner, payer, and beneficiary of the policy.
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Preguntas relacionadas de este tema
- A 'noncancelable' disability income policy guarantees that the insurer:
- Business overhead expense (BOE) disability insurance reimburses a disabled business owner for:
- A disability buy-sell policy is designed to provide funds to:
- A disability income policy that covers the insured only for injuries and sickness occurring away from the job is described as:
- Short-term disability (STD) coverage generally provides benefits for a maximum period of about:
- Long-term disability (LTD) coverage typically begins after short-term benefits end and may continue paying until:
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Revisado por John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verificar)