Question

26.[Credit life | Group] insurance is one of the most expensive forms of life insurance.

27.A guaranteed purchase option is when an insured sells an interest in the life insurance policy to an investor, who then becomes the policy's beneficiary. True/FAlse

28.

The needs analysis method of determining the amount of life insurance considers

a. debt liquidation.

b. extra expenses if income producer dies.

c. needed income.

d. special needs of dependents.

e. All of these choices are correct.

32.Changing the beneficiary on a life insurance policy is generally [easy | difficult] to do.

33.When you stop making premium payments on a whole life policy, the policy's cash value is forfeited. True/False

34.

In determining available resources that would be available after death, you would generally not consider

a. social security benefits.

b. earning potential of surviving spouse.

c. earning potential of surviving children.

d. savings.

e. market value of home in which survivors will reside.

Answer 1