Management Notes

Reference Notes for Management

Credit Accident and health plans are designed to

Credit Accident and health plans are designed to

Credit Accident and health plans are designed to

Options:

A) permit creditors the ability to require that coverage be purchased through insurers of their choice
B) provide permanent protection
C) help pay off existing loans during periods of disability
D) not permit free choice of coverage selection

The Correct Answer Is:

  • C) help pay off existing loans during periods of disability

Credit Accident and health plans are designed to help pay off existing loans during periods of disability. The cause of disability can be many, including car accidents and illnesses. When a person becomes disabled, they may not be able to work and may need assistance paying off their existing loans. Medical bills and loan payments associated with disability can be covered by credit accident and health plans. People can stay out of debt while recovering by taking advantage of these plans, which are usually offered by lenders or insurers.

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