Answered

Question 3

Select the appropriate response:

All of the following are considered appropriate uses of life insurance for business purposes EXCEPT:

A. Attracting quality employees by offering a group life plan
B. Funding an entity buy-sell agreement
C. Protecting the business by covering key employees with life insurance
D. Protecting the business by covering entry-level employees with life insurance



Answer :

GinnyAnswer

Final answer:

Not all uses of life insurance for business purposes are appropriate. Covering entry-level employees with life insurance is not a common or necessary practice for businesses.


Explanation:

Protecting the business by covering entry level employees with life insurance is NOT considered an appropriate use of life insurance for business purposes. While offering a group life plan to attract quality employees, funding an entity buy-sell agreement, and covering key employees with life insurance are common business uses of life insurance. However, covering entry-level employees with life insurance may not be necessary for business needs.


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