MASSACHUSETTS HEALTH & ACCIDENT INSURANCE EXAM QUESTIONS AND CORRECT ANSWERS | LATEST UPDATE
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Course
MASSACHUSETTS HEALTH & ACCIDENT INSURANCE
Institution
MASSACHUSETTS HEALTH & ACCIDENT INSURANCE
Hazard
-:- Situation that increases chance of loss
Annuity
-:- Policy issued by an insurance company to promise you an income
that can last you a lifetime
Insurer
-:- An insurance company
Insured
-:- A person or business covered by an insurance pol icy
Health Insurance
2 | P a g e...
✓ -:- continue the operation of the business in the event of a disabling
sickness to a business owner or key employee
Employee Benefit Plans
✓ -:- - help employee in event of disabling sickness or injury
- rare to not include provision of health insurance/benefits
- contributes to morale and productivity of employee
- provides needed benefits (helps hold down demands for wage increases)
- gives employer tax deductions
- enhances employer image
Business Overhead Expense Insurance
✓ -:- - sold individually
- designed to reimburse business for overhead expenses in the event a business owner
becomes disabled (day to day operations)
- does not include compensation for disabled owner
- premiums are tax-deductible as insurance expense
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