Residual Benefit.

Residual benefit is a type of long-term disability insurance that pays benefits to policyholders who are unable to return to work due to a disability. The benefit is typically a percentage of the policyholder’s pre-disability income, and is paid for a specified period of time. Which statement is correct about residual benefit payments? The Social … Read more

General Obligation (GO) Bond Defintiion.

A general obligation (GO) bond is a type of municipal bond that is backed by the full faith and credit of the issuer, typically a state or local government. This means that the issuer is legally obligated to repay the bondholders from any and all sources of revenue, including property taxes and other taxes. GO … Read more