COMMERCE 4FP3 Study Guide - Final Guide: Mortgage Loan, Down Payment, Gross Income
12 Apr 2019
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Chapter #9: life, health, and disability insurance: purpose of life insurance: protect someone who depends on you from financial loss related to your death, one of the few ways to provide liquidity at the time of death. Important provisions in a life insurance contract: naming your beneficiary, policy reinstatement must qualify again as an acceptable risk and must pay overdue prem. With interest: non-forfeiture clause prevents forfeiture of added benefits if you choose to drop the policy. Internal limits specifies max. benefits for specific expenses: aggregate policies limit total amount of coverage, deductible and co-insurance, out-of-pocket limit. Inflation risk: return on investment will not keep up with inflation. Index: a statistical measure of the changes in a portfolio of stocks representing a portion of the overall market: s&p/tsx composite index, dow jones industrial average, nyse composite index, nasdaq composite index, standard & poor"s 500 stock index. Exam review: to get money to operate or expand.
