All categories

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

brainly.com/question/7325538

Learn more about the insurance rules

brainly.com/question/6075135

Learn more about the insurance cover

brainly.com/question/1362335

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.

You might be interested in

It is important negotiators consider the shadow negotiation carefully before meeting with the other party so they:________

UkoKoshka [18]

Answer:

b. are clear in their own minds about the scope of the negotiations.

Explanation:

Shadow negotiations refer to the unspoken assumptions that determine how those involved in a deal with each other, whose opinions get heard, whose interests hold sway. Therefore, this is important so the negotiators are clear in their own minds about the scope of the negotiations. Meaning that they go into the negotiation knowing who has more bargaining power and how far they can actually take the negotiation.

7 0

3 years ago

On November 30, the company received an invoice from the electric company for $200. The company will pay the invoice in December

harkovskaia [24]

Answer:

Utility expense Dr. $200

Accounts payable Cr. $200

(To record the entry for electric expense)

Explanation:

Given the amount of the invoice = $200

The expenses like Electricity expenses come under utility expenses so the incurred electricity expense will show that the utility expenses are debited and account payable is credited. Here the account payable is credited because the is not paid.

Thus, below is the entry as on 30th November.

Utility expense Dr. $200

Accounts payable Cr. $200

(To record the entry for electric expense)

8 0

3 years ago

On a normal roadway, a driver in Lane Position 2 may be preparing to __________ .

dexar [7]

Exit the roadway. Hope this helps!

8 0

3 years ago

Are there any similarities between the characteristics demanded of an entrepreneur and those of a professional athlete? Would an

pychu [463]

Answer:

The demands of an entrepreneur and a professional athlete are more comparative than one may expect.

Explanation:

Professional athlete are required to place in extended periods of time, remain submitted, deal with their bodies, keep an expert notoriety, and deal with their own image. An entrepreneur must work unusual hours, stay with their objectives, deal with themselves, arrange and keep up great associations with sellers and clients, and advance their organisation. So yes they both have similarities and an athlete can work as an entrepreneur because he knows how to work with team members and how to stay on objectives.

4 0

3 years ago

Today humans create as much information in _____ as we did from the beginning of civilization to the end of 2003. (1. 48 years (

Archy [21]

4. 48 Hours

We create at least 5 exabytes of data every 2 days. This is contributed by images, emails, social media, and all other internet content.

6 0

3 years ago

Read 2 more answers