ACCIDENT AND SICKNESS Questions With Complete Answers
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Course
A&S
Institution
A&S
The _______ of the various provinces define what is considered to be "accident and sickness" (A&S) insurance. - ANS Insurance Companies Acts
A&S insurance includes the following: - ANS o Benefits for loss due to accidental bodily injury to the life insured;
o Benefits for lo...
ACCIDENT
AND
SICKNESS
Questions
With
Complete
Answers The
_______
of
the
various
provinces
define
what
is
considered
to
be
"accident
and
sickness"
(A&S)
insurance.
-
ANS
Insurance
Companies
Acts
A&S
insurance
includes
the
following:
-
ANS
o
Benefits
for
loss
due
to
accidental
bodily
injury
to
the
life
insured;
o
Benefits
for
loss
due
to
accidental
death
of
the
life
insured;
o
Benefits
for
loss
resulting
from
the
sickness
or
disability
of
the
life
insured;
o
Benefits
for
loss
due
to
the
death
of
the
life
insured;
o
Benefits
for
healthcare,
including
dental
and
preventive
care
of
the
life
insured.
What
sources
do
retirement
income
come
from?
-
ANS
o
Government
pension
plans
(Canada/Quebec
Pension
Plans
(CPP
and
QPP)
and
Old
Age
Security
(OAS));
o
Employment
pension
plans;
o
Private
pension
plans
(Registered
Retirement
Savings
Plans
(RRSPs));
o
Non-registered
investments;
o
Inheritances;
o
Part-time
employment
or
self-employment;
o
Liquidation
of
assets.
What
are
the
financial
risks
that
threaten
individuals
and
their
families?
-
ANS
o
Unexpected
expenses;
o
Loss
of
income
or
savings;
o
Lower
standard
of
living;
o
Inflation;
o
Longevity;
o
Debt.
True
or
false:
income
is
dependent
upon
both
availability
and
the
individual's
ability
to
continue
working
-
ANS
True
True
or
False:
In
general,
people
are
living
less
and
spending
less
years
in
retirement.
-
ANS
False.
In
general,
people
are
living
longer
and
spending
more
years
in
retirement.
People
also
face
personal
health
risks
that
could
derail
their
financial
plans
and
imperil
their
financial
security,
such
as....
-
ANS
-
likelihood
of
disability,
-
loss
of
independence -
costs
of
long-term
care.
What
is
a
person
with
disability?
-
ANS
Persons
were
identified
as
having
a
disability
if
they
had
difficulty
performing
tasks
as
a
result
of
a
long-term
condition
or
health-related
problem
and
were
limited
in
their
daily
activities.
True
or
false:
In
the
event
of
illness,
injury
or
medical
necessity,
accident
and
sickness
insurance
can
provide
needed
funds
to
buy
time
for
employees
-
ANS
True
True
or
False:
The
prevalence
of
disabilities
among
Canadians
tends
to
increase
with
age
-
ANS
True
The
needs
met
by
A&S
insurance
for
individuals
include
protection
for:
-
ANS
-
Income;
-
Savings;
-
Assets.
one
of
the
most
common
forms
of
coverage
is
____________.
It
is
an
insurance
that
will
replace
a
percentage
of
a
person's
regular
income
from
employment
or
self-employment
if
the
insured
is
ill
or
injured
and
unable
to
work.
-
ANS
Disability
income
protection
A
form
of
accident
and
sickness
insurance
that
can
defray
the
financial
impact
of
many
of
these
risks
by
providing
needed
cash
to
replace
lost
income
or
pay
medical
bills
is
called
__________
-
ANS
extended
health
insurance
True
or
false:
health
issues
in
the
senior
years
can
bring
expenses
that
deplete
retirement
and
estate
assets
-
ANS
True
_____________
can
provide
benefits
to
offset
much
of
the
health
issues
expenses,
permitting
the
senior
to
maintain
the
value
of
his
estate,
to
pass
on
to
his
heirs.
-
ANS
Critical
illness
and
long-term
care
insurance
What
are
the
goals
for
the
business/business
owner
translate
directly
into
individual
goals:
-
ANS
o
Business
profitability
(income
protection);
o
Business
succession
(capital
protection);
o
Sale
at
fair
market
value
(protection
of
estate
value).
Among
the
many
factors
that
contribute
to
profitability
is
______________.
-
ANS
business
continuity.
True
or
false:
the
majority
of
"family-owned"
private
businesses
do
not
transition
down
to
the
next
generation,
primarily
because
of
a
lack
of
planning
-
ANS
True
A
spur-of-the-moment
sale,
unplanned,
is
often
a
_______,
with
potential
successors
or
competitors
looking
to
take
advantage
of
the
situation
by
paying
a
fraction
of
fair
value
for
the
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