Alain and Bette are partners who own and operate Cakes n' Pies, a chain of dessert restaurants. Their partnership obtains insurance on Alain and Bette's lives. This is

Question

Quizplus · Accepted Answer

Key-person insurance is designed to protect a business from financial losses that may arise from the death or incapacitation of a key employee or owner. In this case, Alain and Bette are owners of Cakes n' Pies, and their lives are insured by the partnership, making it a key-person insurance policy rather than disability, all-risk, or liability insurance.

Alain and Bette Are Partners Who Own and Operate Cakes