KENTUCKY HEALTH INSURANCE EXAM LATEST QUESTIONS AND ANSWERS WELL VERIFIED GRADED A+

KENTUCKY HEALTH INSURANCE EXAM LATEST QUESTIONS AND ANSWERS WELL VERIFIED GRADED A+ What is the difference between a disability income and medical expense policy? - ANSWER-Medical expense policies cover the hospital and medical expenses of covered injures or illnesses, whereas disability income policies actually pay income to a person who must miss work as the result of an injury or illness. What is the purpose of key person disability insurance? - ANSWER-The key person's economic value to the business is determined in terms of the potential loss of business income which could occur as well as the expense of hiring and training a replacement for the key person. With key person insurance, who pays the premium, who is the beneficiary and the insured? - ANSWERThe contract is owned by the business, so the premium is paid by the business, and the business is the beneficiary. The key employee would be insured.