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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.

<u>Beneficiary receives the financial protection from a life insurance plan. </u>

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.

<u> 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. </u>

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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RideAnS [48]

Diseconomies of scale result from monthly bike sales of more than 400.

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Diseconomies of scale are the cost disadvantages that economic actors experience as a result of growing their organizational size or their output.
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<h3>What is Economies of scale ?</h3>

The cost advantages that businesses experience as a result of their size of operation are known as economies of scale.
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1 year ago

While conducting an audit of a new nonissuer client, an auditor discovers that accounting policies applied in relation to the fi

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Answer:

A) Obtain sufficient appropriate evidence about whether changes in the accounting policies have been appropriately accounted for and adequately presented and disclosed in accordance with the applicable financial reporting framework.

Explanation:

When such things happen, the auditor must search more information regarding the accounting policies and must evaluate if the company's accountants adopted accounting policies that are legal and adjust to applicable financial reporting (e.g. GAAP in the US). The auditor must also try to determine the effects of the applied policies and if all proper disclosures have been included or not. The auditor should also try to determine why the company's accounting department did that and how do they justify it.

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3 years ago

If you were charged $1152 in taxes on a $2560 purchase. What percent tax were you charged

katen-ka-za [31]

Answer:

Percent tax = 45%

Explanation:

Given:

Amount of tax charged = $1,152

Amount of purchase = $2,560

Find:

Percent tax

Computation:

Percent tax = [Amount of tax charged / Amount of purchase]100

Percent tax = [1152 / 2560]100

Percent tax = 45%

6 0

3 years ago

In some countries with very high inflation rates, citizens tend to spend their money as fast as they receive it in order to keep

ch4aika [34]

In some countries with very high inflation rates, citizens tend to spend their money as fast as they receive it in order to keep it from losing any more of its value. Under these conditions, money is said to lack stability

Explanation:

In most situations, two main factors of a high inflation rate are present in a national economy, which in most countries at the very most. Firstly, an increase in consumer spending in comparison to supply could lead to high inflation. The prices rise when more people fought about fewer goods.

Price stability ensures that excessive inflation and deflation are prevented.

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4 0

3 years ago

Which of the following is not an example of how media coverage of the Space Race affected the economy?

mrs_skeptik [129]

Correct option: The media only covered positive elements of the Space Race and never mentioned any setbacks.

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7 0

3 years ago

Read 2 more answers