rawer Prevents the mounts from taking ameninas brown the pobcybolder's knowledge" CSU FIN 470 Fall 2019 Test #3 13/26 The insurer cannot covers the policy alice a tras turn in force ron years during the insured's became Princess the beneficiary if the ususes tries to dessy pryment ch the claim years after the policy was first warned. if the ensured commuts suicide within two year after the Answer E Last Clear Chance policy is waved. the face amount of mauranee will not be Defined benefit plan paid, there is only a refund of the premsum. pass. Simplified employee person The policyholder has a period of 31 days (or mock) in N pay an overdue premium. Ky (STEP) Permits the owner to reinstate a lapsed policy Beneficiary Calendar year deducable The party namdied in the policy to receive the policy Profit sharing plan pro Reinstatement provision i specified amount of money that the insured must pay Disability-income insurance before the insurer will pay a claim Must be satisfied. Long-term care insurance once during a calendar year percentage of the bill in excess of the deductione, Copayment XXXX Consumer directed health plan which the insured must pay out of-pocket up to some Variable life insurance maximaumn annual dollar lizmt. Defined-contribution plan fat amount the insured must pay for certain benefus. Employee benefits N such as an office visit or generic drug Health savings account The insured's total out-of-pocket spending after which Universal life insurance the insurer pays 100 percent of eligible expenses. Suicide clause A tax exempt account established exclusively for the Vesting purpose of paying qualified medical expenses Term Insurance Pays a daily or monthly benefit for medical or custodial Grace period care received in a nursing facility, in a hospital, or at Group medical expense home . insurance Provides income payments when the insured is unable Entire contract clause to work because of sickness of injury. Annual out-of-pocket limit employer-sponsored benefits, other than wages, that Incontestable clause enhance the economic security of individuals and Coinsurance provision families End are partly or fully paid for by employers Whole life insurance An employee benefit that pays the cost of hospital care, physicians' and surgeons' fees, and related medical Term expenses. Protection is temporary; protection expires at the end of A generic term for a plan that combines a high- the policy period, unless renewed. deductible health plan with a health savings account B A cash-value policy that provides lifetime protection. A stated amount is paid to a designated beneficiary when (HSA) or health reimbursement arrangement (HRA). the insured dies, regardless of when the death occurs. The employee's right to the employer's contributions or V A fixed-premium policy in which the death benefit and benefits attributable to the contributions if employment terminates prior to retirement. cash values differ according to the investment experience of a separate account, which is similar to a The retirement benefit is known, but the mutual fund maintained by the insurer. contributions will vary depending on the amount A flexible premium policy that provides lifetime needed to fund the desired benefit. protection After the first premium, the policyholder The contribution rate is fixed but the actual decides the amount and frequency of payments. retirement benefit is variable. Premiums, less explicit expense charges, are credited to a cash-value account, also called an accumulation fund. A defined-contribution plan in which the a plaintiff who is endangered by his or her own Y employer's contributions are typically based on the negligence can still recover damages from the defendant firm's profits. if the defendant has a last clear chance to avoid the A retirement plan in which the employer accident but fails to do so Z contributes to an IRA established for each eligible "The life insurance policy and attached application employee. constitute the entire contract between the parties. Pag