the basic purpose of insurance is to:the basic purpose of insurance is to:

&2016& 2015\\ b. earning potential of surviving children. \begin{array}{lrr} Insurance is when a third-party promises to idenmify another party for losses they might suffer in the future in exchange for agreed upon payments. Insurance underwriting is best described as: The process used by insurers to decide who can be insured and to determine applicable rates that will be charged for premiums 4. demand generated by Medicare Depending on the type of life insurance policy and how it is used, permanent life insurance can be considered a financial asset because of its ability to build cash value or be converted into cash. It does this substituting payment of a small, known feean insurance premiumto a professional insurer in exchange for the assumption of the risk a large loss, and a promise to pay in the event of such a loss. One of the main factors causing the rise in medical costs is the rising average age of the American population. The need was made plain when some 14,000 buildings were destroyed and 200,000 persons left homeless in a fire which raged through London in 1666. PERSONAL PROPERTY due to catastrophe and calamity. b. semiannual Insurance products often are developed to meet specific objectives. protection. e. loan value only. e. premium reductions. 12/31/201912/31/2018Accountsreceivable$14,000$18,000Accountspayable22,00015,000Costofgoodssold144,000127,000Sales279,000239,000Salesreturns12,00010,000Retainedearnings47,00016,000Dividends3,0002,000Incomefromoperations25,00016,000Netincome19,00018,000\begin{array}{lrr} Do federal employees get healthcare for life? Madan Bahsin concludes in her research paper that examined the fraud at Satyam that the scandal brought to light the importance of ethics and its relevance to corporate culture. Explain what you believe Bahsin meant by linking the ethical reasoning methods discussed in the text to corporate governance, using the Satyam fraud to illustrate your points. c. limited payment. c. paid up life a. provide more flexible coverage. Its aim is to reduce financial uncertainty and make accidental loss manageable. (Points : 2), Based on the cell diagram on the right, which structure is found in both animal and plant cells and is responsible for creating energy/ATP? c. viatical settlement c. Introversion. The insurance company reviews the claim for its validity and then pays out to the insured or requesting party (on behalf of the insured) once approved. , eus Life insurance is a contract in which an insurer, in exchange for a premium, guarantees payment to an insureds beneficiaries when the insured dies. e. Trait. True False Question 3 (1 point) Risk is uncertainty regarding economic loss. There also are variations on thesevariable life insurance, variable universal life insurance and indexed universal life insurancewhich are considered securities and must be registered with the SEC. protection from creditors and lawsuits. a. \end{array} OperatingActivitiesNetincome($160,176)Depreciationandamortization116,960Increaseinaccountspayable378,560Increaseinaccruals353,600Increaseinaccountsreceivable(280,960)Increaseininventories(572,160)Netcashprovidedbyoperatingactivities($164,176)Long-TermInvestingActivitiesAdditionstoproperty,plant,andequipment($711,950)Netcashusedininvestingactivities($711,950)FinancingActivitiesIncreaseinnotespayable$436,808Increaseinlong-termdebt400,000Paymentofcashdividends(11,000)Netcashprovidedbyfinancingactivities$825,808SummaryNetdecreaseincash($50,318)Cashatbeginningofyear57,600Cashatendofyear$7,282\small{ e. all of the above. e. b and c. Key features found in most life insurance contracts include FINRA has jurisdiction over the investment professionals and firms that sell this type of insurance product. a. protection only. Refer to the case related to Satyam. In simple words, insurance is a contract, a legal agreement between two parties, i.e., the individual named insured and the insurance company called insurer. b. e. anticipate risks. His plan is a ____ life policy. \text{Cash at end of year}& \$ 7,282\\ Here are five reasons why life insurance is important. OASDHI, sometimes called social security, actually refers to the following: Old-age, Survivor's, Disability, and Health Insurance, Percentcollectedinthemonthafterthesale, Percentcollectedinthesecondmonthafterthesale, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition. Kurt purchased a policy with an initial premium of $3,000 and may elect how much he desires to pay in premiums from now on. Viewed as a form of mutual aid, risk-sharing can be seen not only as sound business practice, but as enlightened social behavior rooted in accepted principles of ethics. b. primarily sold to college students. The concept of insurance is very simple to understand. There are four types of insurance that most financial experts recommend everybody have: life, health, auto, and long-term disability. d. premium refunds. In what way does a deductible help an insurance company? In some instances, life insurance can help replace a portion of the household income your spouse, partner or children will lose if you pass away. \text{DPS} & \$ 0.110 & \$ 0.220\\ Most people have some kind of insurance: for their car, their house, or even their life. Assume that you are Jamison's assistant. An insured usually chooses variable life insurance in order to 1- Nucl Most people prefer to pay health insurance premiums rather than pay out-of-pocket for medical expenses because. This preview shows page 1 - 3 out of 26 pages. e. Special-purpose policies; group life. \text{EBT} &(\$ 266,960) &\$ 146,600\\ Insurance is a contract in which an insurer indemnifies another against losses from specific contingencies or perils. A claim defines your papers goals, direction, scope, and exigence and is supported by evidence, quotations, argumentation, expert opinion, statistics, and telling details. d. 120 days We're looking for Junior Quality . \text { Sales } & 279,000 & 239,000 \\ Life insurance products are often a part of an overall financial plan. The right to maintain ones proportionate ownership in the corporation is the right of _____. d. term insurance. The best way to handle risk is to d. Option B stated coverage plus accumulated cash value Lets look at the most important. A marine policy adapted to accommodate him probably was the first policy issued to insure an automobile as property. The company pools clients' risks to make payments more affordable for the insured. An insurance policy is a contract in which an individual or an organization gets financial protection and compensation for any damages by the insurer of the insurance company. Group health insurance premiums are usually lower than individual health insurance premiums. If riskschances of losscan be divided among many members of a group, then they need fall but lightly on any single member of the group. b. emphasize the savings portion while still having death protection. a. level annual premiums throughout life. In the New World, the first fire insurance firm was formed in 1735 but lasted a scant five years. ), including your deductible, from the at-fault driver's insurance company, if the accident wasn't your fault. The insured party must experience a covered loss. d. variable \text{Cost of goods sold} &5,528,000 &2,864,000\\ The insured party must file a claim. Bennett Inc. found that about 15%15 \%15% of its sales during the month were for cash. Businesses require special types of insurance policies that insure against specific types of risks faced by a particular business. e. separate identification of death protection and savings portions, Henry must make set premium payments on his insurance policy until he dies, and if he cancels the policy he will receive the cash value. e. market value of home in which survivors will reside. Homeowners insurance (also known as home insurance) protects your home and possessions against damage or theft. Step 4: Review Insurance Company's First Settlement Offer. b. policy reinstatement. b. Check all that apply. Unhappy suppliers were being paid late; and the bank was complaining about the deteriorating situation and threatening to cut off credit. Would the asset expansion have caused the company to experience a cash shortage that required it to raise external capital? c. inappropriateness for most person's life insurance needs. of supplemental retirement income, and the payoff of mortgages. Rodney and Toni are a young couple with two small children. b. assume risk. c. Adverse selection Underwriting discussion Here are some of the most common types of life insurance: Another type of insurance islong-term care insurance, which is designed to help manage health care expenses as you age and tends to cover what Medicare and most conventional health insurance policies don't: long-term custodial care expenses. \text{Accounts receivable}& 632,160& 351,200\\ In this agreement, the insurer promises to help with the losses of the insured on the happening contingency. b. limited pay Nonforfeiture rights guarantee that a policyholder will not lose his or her ____. What is the reason of the inclusion of the subconscious in our minds. \textbf{Operating Activities}\\ the amount paid for an insurance policy a. income levels. a. term. b. universal life \text{Increase in inventories}& (572,160)\\ d. requires a savings function. b. mortgage life insurance. c. health status. Principal of subrogation: The principle of subrogation enables the insured to claim the amount from the third party responsible for the loss. \begin{array}{lcccc} $200,000 to Jack new drug therapies Watkins believed that D'Leon's products were of higher quality than the competition's; that this quality differential would enable it to charge a premium price; and that the end result would be greatly increased sales, profits, and stock price. Many types of life insurance are available. The basic purpose of insurance is to provide: loans. You want to pay premiums for 20 years and have your insurance premium obligations finished at that time, but you feel you will need life insurance for the rest of your life. 3- Mitochondria a. To cover all these risks and the after affect arising be View the full answer \text{Interest expense}& 136,012 &43,828\\ \text { Accounts payable } & 22,000 & 15,000 \\ 12 Likes, 0 Comments - Info Lowongan Kerja (@lokermalangsekitar) on Instagram: "Akun yang di tag : @24Slides Hello! Each type of life insurance has its own pros and cons. a. has no incontestability clause. OperatingActivitiesNetincomeDepreciationandamortizationIncreaseinaccountspayableIncreaseinaccrualsIncreaseinaccountsreceivableIncreaseininventoriesNetcashprovidedbyoperatingactivitiesLong-TermInvestingActivitiesAdditionstoproperty,plant,andequipmentNetcashusedininvestingactivitiesFinancingActivitiesIncreaseinnotespayableIncreaseinlong-termdebtPaymentofcashdividendsNetcashprovidedbyfinancingactivitiesSummaryNetdecreaseincashCashatbeginningofyearCashatendofyear($160,176)116,960378,560353,600(280,960)(572,160)($164,176)($711,950)($711,950)$436,808400,000(11,000)$825,808($50,318)57,600$7,282, 20162015Sales$6,034,000$3,432,000Costofgoodssold5,528,0002,864,000Otherexpenses519,988358,672Totaloperatingcostsexcludingdepreciationandamortization$6,047,988$3,222,672Depreciationandamortization116,96018,900EBIT($130,948)$190,428Interestexpense136,01243,828EBT($266,960)$146,600Taxes(40%)(106,784)58,640Netincome($160,176)$87,960EPS($1.602)$0.880DPS$0.110$0.220Bookvaluepershare$4.926$6.638Stockprice$2.25$8.50Sharesoutstanding100,000100,000Taxrate40.00%40.00%Leasepayments$40,000$40,000Sinkingfundpayments00\small{ The right to maintain ones proportionate ownership in the corporation is the right to maintain ones proportionate in... 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