Jackie has a long-term care policy with a total maximum benefit of $100,000. She has already received $30,000 in benefits. Her remaining benefit maximum is $70,000. If she does not receive additional benefits for a specified period of time, the company may restore her maximum benefit back to $100,000. What is this type of restoration benefit called? O a. Restoration of benefits. O b. Delayed restoration. O c. Waiver of premium. O d. Refund of premium.
Jackie has a long-term care policy with a total maximum benefit of $100,000. She has already received $30,000 in benefits. Her remaining benefit maximum is $70,000. If she does not receive additional benefits for a specified period of time, the company may restore her maximum benefit back to $100,000. What is this type of restoration benefit called? O a. Restoration of benefits. O b. Delayed restoration. O c. Waiver of premium. O d. Refund of premium.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Jackie has a long-term care policy with a total maximum benefit of $100,000. She has already received $30,000 in benefits.
Her remaining benefit maximum is $70,000. If she does not receive additional benefits for a specified period of time, the
company may restore her maximum benefit back to $100,000. What is this type of restoration benefit called?
O a. Restoration of benefits.
O b. Delayed restoration.
O c. Waiver of premium.
O d. Refund of premium.
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