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3 years ago

The person who receives financial protection from a life insurance plan is called

2 answers:

7 0

The answer to this question is A. Beneficiary
Payer is the person who buy the insurance (not necessarily for themselves only, can be given to their family or friends). Insured can not only be a person, but it also can be an object (such as cars). And the giver is the company who provide the insurance service for the payer.

Leto [7]3 years ago

5 0

Option (A) is correct.

Beneficiary receives the financial protection from a life insurance plan.

Further Explanation:

Beneficiary: Beneficiary is a person(s) or an entity which receives the insurance claims at the time of the death of the insured person. When a person buys an insurance plan and appoints a beneficiary who would receive the benefits of the insurance at the time of the death of the insured person.

In the given case, the person is receiving the financial protection from the life insurance plan is considered as beneficiary because this party would receive the insurance benefits after the death of the insured person.

Justification for the correct and the incorrect options:

Beneficiary: This is the correct option.

The beneficiary refers to the person who receives the insurance benefits at the time of the death of the insured person.

Payer: This is an incorrect option.

The payer pays the insurance premium for the insurance plan.

Insured: This is an incorrect option.

Insured person is the party whose death forces the insurance company to pay the insurance benefits to the beneficiary.

Giver: This is an incorrect option.

Premium does not receive the financial protection from the insurance plan.

Learn more:

Learn more about health care insurance

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Learn more about the insurance rules

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Learn more about the insurance cover

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Answer details:

Grade: High School

Subject: Business Studies

Chapter: Life Insurance Policies

Keywords: Person, receives, financial protection, life insurance plan, called, beneficiary, payer, insured, giver, insurance plan, insurance, parties of the insurance plan, death of the insured, claims, who receives.

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3 years ago

Which of the following is true of the Discount on Bonds Payable account? The bonds are due inten years.A) It is subtracted from

Aliun [14]

Answer:

A) It is subtracted from the Bonds Payable balance and shown with long-term liabilities on the balance sheet

Explanation:

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3 years ago

When the manufacturer of Cool Whip introduced a chocolate-flavored Cool Whip and still continued to produce all of its other Coo

Mashutka [201]

If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of (C) line extension.

<h3>What is line extension?</h3>

The process of expanding an established product line is referred to as line extensions.
When a corporation with a well-known brand releases new items in a product segment.
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The complete question is given below:
If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of

a. a brand extension.

b. quality modification.

c. line extension.

d. a new-to-the-world product.

e. functional modification.

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2 years ago

Which of the following are arguments that are given to support trade barriers?

Roman55 [17]

Answer:

E To prevent dumping

Explanation:

There are several arguments that are given to support trade barriers; one of which is to prevent dumping. A country would place embargo on imports with respect to some of the goods that are produced in her country. This is to enable and encourage local production of such goods. Where a country permits importation of goods that are produced locally, such action could being down the efforts of local production ; hence local industries might not thrive in terms of production.

Also, placing embargo on the importation of goods that are produced locally in a country would take away the possibility of making the country for dumping ground in terms of goods that are not up to standard, produced in a foreign country and same would have been imported.

5 0

3 years ago

Marcus, a high school student, works at a lumberyard making $10.50 an hour. with his academic and sports schedule, he is able to

max2010maxim [7]

Given:
salary: $10.50 an hour
25 hours a week

expenses:
Cellphone bill: $65/month
car insurance: $1,200/yr
*20% taxes.

There is no specific question but I will solve for Marcus net earnings for the year.

25 hours/week * 52 weeks/yr = 1,300 hours/year

Wages: 10.50 per hour * 1,300 hours/year = $13,650 Gross salary per year
Taxes: 13,650 * 20% = 2,730

13,650 - 2,730 = 10,920 net salary for the year

Cell phone bill: 65 per month * 12 months = 780

Net salary: 10,920
Cell phone bill (780)
Car insurance: (1,200)
Net Income: 8,940 per annum.

3 0

3 years ago