Question

just choose the best answer 1. Does everyone need life​ insurance?  ​(Select the best answer​ below.)...

just choose the best answer

1. Does everyone need life​ insurance?  ​(Select the best answer​ below.)

a. Yes, all people need life insurance.

b. No, only those with children need life insurance.

c. No, only those with financial dependents need life insurance.

d. Yes, all legal adults need life insurance.

2.

What is term​ insurance? What factors determine the premium for term​ insurance? What is​ decreasing-term insurance?

Term​ insurance:     ​(Select the best answer​ below.)


a. serves as an investmentserves as an investment.

b. provides insurance for the term of employment.


c. provides protection over the specified periodprovides protection over the specified period.

d. provides insurance for the term of the investment.

3. The factors that determine the premium for term insurance​ include:  ​(Select the best answer​ below.)


a. eduational leveleduational level.


b. religious affiliationreligious affiliation.


c. geographic locationgeographic location.


d. length of time coveredlength of time covered.

4.

Why is the premium paid for whole life higher than the premium paid for term​ life? What alternative approach to purchasing life insurance might provide the same benefits as whole​ life?

The premium paid for a whole life policy is higher than the premium for term life​ because:     ​(Select the best answer​ below.)

a. regulators set the premium prices.

b. he insured values for whole life policies are higher.

c. term life insurance policies are not available to everyone.

d. whole life insurance provides both insurance protection and savings.
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Homework Answers

Answer #1

Answer 1)

Yes, all people need life insurance. All people old, minor, major needs insurance.

Option a is correct.

Answer 2)

Term​ insurance is the insurance which provides protection over the specified period.

Option C is correct.

Answer 3)

The factors that determine the premium for term insurance is the length of time covered.

option d is correct.

Answer 4)

the insured values for whole life policies are higher.

Therefore Option b is correct.

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