If you were to obtain life insurance would you look to obtain a whole life or...
If you were to obtain life insurance would you look to obtain a whole life or term policy? Describe each policy, discuss and defend your position. In order to get full points you must answer each element of the question.
Homework Answers
Add Answer to:
If you were to obtain life insurance would you look to obtain a
whole life or...
What type of Life insurance such as term, whole life, variable, etc. would you recommend for...
What type of Life insurance such as term, whole life, variable, etc. would you recommend for each of these clients and why? Be sure to explain how each policy works and why it is right for them. A middle aged couple (60 and 61) with an adult kid (37) and an elderly father that has moving in with them cause he is struggling to take care of himself (age 81). The husband and wife each earn $60,000 and get a...
08: Assignment - Insuring Your Life 6. Understanding whole life insurance Suppose you are a life...
08: Assignment - Insuring Your Life 6. Understanding whole life insurance Suppose you are a life insurance broker with a client who is interested in buying a whole life insurance policy. You explain to him the three major types of whole life insurance: continuous premium, also known as limited payment, and single premium. Your client is a 33-year- old man and a father of four who is looking for the policy that provides the most permanent death protection for a...
What type of Life insurance such as term, whole life, variable, etc. would you recommend for...
What type of Life insurance such as term, whole life, variable, etc. would you recommend for each of these clients and why? Think these scenarios through based on what you learned in chapter 11. Be sure to explain how each policy works and why it is right for them. A highly successful risk taking widow age 50 with 4 kids ages 14, 20, 23, and 24. She has a high income ($200k) but few assets saved. She is in great...
What type of Life insurance such as term, whole life, variable, etc. would you recommend for...
What type of Life insurance such as term, whole life, variable, etc. would you recommend for each of these clients and why? Be sure to explain how each policy works and why it is right for them. A conservative married man age 50 who owns 15 gas stations in town that are worth over $12 million dollars. His wife is 30 and his 3 sons are all in their 20s with jobs in his business. He wants to work until...
28. If your insurance policy promises to pay death benefits only if you die during a specified time, you have [term l whole] life insurance. 28. If your insurance policy promises to pay deat...
28. If your insurance policy promises to pay death benefits only if you die during a specified time, you have [term l whole] life insurance.
28. If your insurance policy promises to pay death benefits only if you die during a specified time, you have [term l whole] life insurance.
Understanding universal life insurance Universal life insurance combines elements from term and whole life insurance. Term...
Understanding universal life insurance Universal life insurance combines elements from term and whole life insurance. Term policies provide a death benefit _______ savings component, whole life policies provide a death benefit _______ savings component, and universal policies provide a death benefit _______ savings component. To understand how universal premiums are allocated, consider the following example. Kathy is a 37-year-old lawyer who has taken out a universal life insurance policy to protect her two children (ages 8 and 6) in the...
3. There are three types of life insurance policies that a sales representative can sell: term, whole life, and univers...
3. There are three types of life insurance policies that a sales representative can sell: term, whole life, and universal life. The following matrix gives the number of policies sold by three different representatives during a recent month Whole Universal Life Life 40 Term representaive A 30 representaive B 24 representaive C 34 8 10 32 6 38 Assume representatives A, B, and C earned $4400, $4060, and $4160, respectively, in commissions for these sales. The commission earned depends only...
Question 8 (10 points) A term life insurance policy will pay a beneficiary a certain sum...
Question 8 (10 points) A term life insurance policy will pay a beneficiary a certain sum of money upon the death of the policy holder. These policies have premiums that must be paid annually. Suppose a life insurance company sells a $230,000 one year term life insurance policy to a 49-year-old female for $527. According to the National Vital Statistics Report, Vol. 47, No. 28, the probability the female will survive the year is 0.99791. Compute the expected value of...
Question 4 A person, age 80, purchases a whole life insurance policy of 100,000. You are...
Question 4 A person, age 80, purchases a whole life insurance policy of 100,000. You are given: (i) The policy is priced with a select period of one year. (ii) The select mortality rate equals 80% of the mortality rate from the Standard Ul- timate Life Table. (ii) Ultimate mortality follows the Standard Ultimate Life Table. (iv) i = 0.05 Calculate the actuarial present value of the death benefits for this insurance. (Answer: 59,050.81)
104 Life Insurance-Term and Other The main purpose of life insurance is to provide financial protection...
104 Life Insurance-Term and Other The main purpose of life insurance is to provide financial protection for your dependents in case of your death. You may purchase term life insurance, whole life insurance, limited payment life insurance, of endowment life insurance. ANNUAL PREMIUM - NUMBER OF UNITS PURCHASED X PREMIUM PER $1000 Use the tables below to answer the problems. ANNUAL PREMIUM PER $1000 OF LIFE INSURANCE: 5-YR TERM Age 18 20 25 30 35 45 55 65 Male $...
08: Assignment - Insuring Your Life 6. Understanding whole life insurance Suppose you are a life insurance broker with a client who is interested in buying a whole life insurance policy. You explain to him the three major types of whole life insurance: continuous premium, also known as limited payment, and single premium. Your client is a 33-year- old man and a father of four who is looking for the policy that provides the most permanent death protection for a...
28. If your insurance policy promises to pay death benefits only if you die during a specified time, you have [term l whole] life insurance.
28. If your insurance policy promises to pay death benefits only if you die during a specified time, you have [term l whole] life insurance.
Understanding universal life insurance Universal life insurance combines elements from term and whole life insurance. Term policies provide a death benefit _______ savings component, whole life policies provide a death benefit _______ savings component, and universal policies provide a death benefit _______ savings component. To understand how universal premiums are allocated, consider the following example. Kathy is a 37-year-old lawyer who has taken out a universal life insurance policy to protect her two children (ages 8 and 6) in the...
3. There are three types of life insurance policies that a sales representative can sell: term, whole life, and universal life. The following matrix gives the number of policies sold by three different representatives during a recent month Whole Universal Life Life 40 Term representaive A 30 representaive B 24 representaive C 34 8 10 32 6 38 Assume representatives A, B, and C earned $4400, $4060, and $4160, respectively, in commissions for these sales. The commission earned depends only...
Question 8 (10 points) A term life insurance policy will pay a beneficiary a certain sum of money upon the death of the policy holder. These policies have premiums that must be paid annually. Suppose a life insurance company sells a $230,000 one year term life insurance policy to a 49-year-old female for $527. According to the National Vital Statistics Report, Vol. 47, No. 28, the probability the female will survive the year is 0.99791. Compute the expected value of...
Question 4 A person, age 80, purchases a whole life insurance policy of 100,000. You are given: (i) The policy is priced with a select period of one year. (ii) The select mortality rate equals 80% of the mortality rate from the Standard Ul- timate Life Table. (ii) Ultimate mortality follows the Standard Ultimate Life Table. (iv) i = 0.05 Calculate the actuarial present value of the death benefits for this insurance. (Answer: 59,050.81)
104 Life Insurance-Term and Other The main purpose of life insurance is to provide financial protection for your dependents in case of your death. You may purchase term life insurance, whole life insurance, limited payment life insurance, of endowment life insurance. ANNUAL PREMIUM - NUMBER OF UNITS PURCHASED X PREMIUM PER $1000 Use the tables below to answer the problems. ANNUAL PREMIUM PER $1000 OF LIFE INSURANCE: 5-YR TERM Age 18 20 25 30 35 45 55 65 Male $...
Most questions answered within 3 hours.
-
Romeo wishes to throw a bouquet of flowers to Juliet, who is on
a second-story balcony,...
asked 4 minutes ago -
Why is QE a controversial monetary policy tool.
A. It may lead to excessive inflation.B. By...
asked 21 minutes ago -
A finite potential well has depth U0 = 2.78 eV . What is the
penetration distance...
asked 46 minutes ago -
1. The bus bars of a power station are in two sections A and B
separated...
asked 45 minutes ago -
Fiscal policy is the deliberate manipulation of taxes and
government spending to alter GDP, employment, inflation...
asked 1 hour ago -
evaluating an expression using only one digit and + and - as
operators ....3+5-1+7-5+8
-----------------------
stack...
asked 1 hour ago -
Two concentric current loops lie in the same plane. The smaller
loop has a radius of...
asked 2 hours ago -
1)Which of the following is an
important difference between qualified and nonqualified retirement
plans?
a. Qualified...
asked 2 hours ago -
What's the streaming business's problem on the
horizon?
asked 3 hours ago -
I need help with writing the conclusion for this online lab
report
Abstract
By testing the...
asked 3 hours ago -
For the reaction 1N2+3H2-----> 2NH3, would the reaction rate
trend be: delta[NH3]/ delta t = -2...
asked 4 hours ago -
Within your current/past organization, identify a problem/issue
and format a design to address same. You may...
asked 3 hours ago