Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jose Bautista is insured under a disability policy that provides residual benefits. The total monthly benefit is $3,500. Jose became disabled one year ago when

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Jose Bautista is insured under a disability policy that provides residual benefits. The total monthly benefit is $3,500. Jose became disabled one year ago when he was earning $5,000 per month in sales commissions. Last month he was able to return to work on a part-time basis but he was able to earn only $2,000 per month. Under his policy, Jose is entitled to a residual benefit. Based on the above information, what amount can Jose expect to receive as a monthly benefit? $3,500.$3,000.$2,100.$2,800. Hermione Granger is a member of a group health insurance plan that has a $100 annual deductible and an 80% insurer's coinsurance on claims. Earlier this year she claimed $80 in prescription drugs. She currently has an additional $150 in prescription drug claims. When she submits her claim how much of the current expense will Hermione have to pay herself? $26.00$50.00$46.00$130.00 Question 9 ( 1 point) Anna and Kristoff are married and both are 35. Kristoff works as the manager in a shipping company earning $60,000 a year. He has no group benefits. Anna is selfemployed, working as an interior design consultant. She grosses $60,000 a year and typically has about $15,000 in tax-deductible business expenses, annually. In addition to their earned incomes, the couple shares a total of $20,000 annually in investment income, which they report equally for income tax purposes. As well, Anna receives $10,000 a year (for the next 15 years) in trust income from a testamentary trust set up by her great uncle. They have asked you to discuss their needs for disability insurance. What sources of income would the insurance company take into consideration in determining the maximum amount of coverage that the company would issue on Kristoff? Kristoff's gross salary and $10,000 of investment income, only Kristoff's after-tax salary, $20.000 of investment income and Marta's $5.000 of trust income only Kristoff's after-tax salary only Kristoff's gross salary only Thumei simpson works as a Safety Inspector at the Springfield Nuclear Power Plant. The company has a group insurance plan that provides dental and drug coverage. The plan contains an annual family deductible of $200 and a 20% member's coinsurance charge. During the current year, the family has received the following treatments. Given this treatment schedule, what amount can Homer expect to receive from the insurer to reimburse him for all of these expenses? $592$240$432$540 Question 14 (1 point) Group accident and sickness plan do not typically cover services or products provided under OHIP. Porky Pig experienced bad luck with his health in 2016 and had to rely on either OHIP or his employer group insurance plan on multiple occasions. For which of the following would Porky have been most likely able to receive reimbursement from his employer's group plan? The purchase of a new pair of eyeglasses. Prescription drugs administered to Porky at the hosital. X-rays to determine if Porky had broken his arm skateboarding. A two-day hospital-stay in a ward, to treat a worrisome infection. Question 15 (1 point) Lumiere has a disability income policy that will pay him $2,200 a month for up to 24

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cases In Financial Reporting

Authors: Ellen Engel, D. Eric Hirst, Mary Lea McAnally

8th Edition

1618531220, 9781618531223

More Books

Students also viewed these Finance questions