The most common type of disability coverage is _____ which provides funds to the business to purchase the ownership position of a disabled partner.

Question

Quizplus · Accepted Answer

Buyout insurance, also known as disability buyout insurance, is designed to provide funds for a business to buy out the ownership interest of a disabled partner or shareholder. This ensures that the remaining owners maintain control over the business and the disabled partner or shareholder receives financial compensation for their ownership position. Life insurance, medical insurance, and credit insurance do not provide this specific type of coverage for a business in the event of a partner's disability.

The Most Common Type of Disability Coverage Is _____ Which