Which Statement Best Describes Life Insurance

The personal satisfaction gained from consumption. The insured can borrow or collect the cash value of the policy.

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Different people are willing to face different kinds of risks.

. Which statement best describes the term insuranceSOLUTION. Which of the following statements best describes life insurance policy dividends. Term life insurance covers you during the most important years of your life The best time to open a term life insurance policy is when youre expecting to make a big life decision.

It pays for doctor visits and preventive medical care. Which statement best describes a single premium whole life policy. PAYMENTS UNDER A LIFE INSURANCE POLICY.

Log in for more information. What statement best describes the term insurance. A single premium that is due annually c.

Which of the following statements best describes the Automatic Premium Loan Provision. Insurance can be defined as an insurance coverage that help to cover medical expenses or medical costs. -best describes term life insurance.

Which statement best defines the term copayment. Which statement best describes life insurance. It replaces lost income and covers medical expenses.

An employee quits his job on May 15 and doesnt convert his Group Life policy to an individual policy for 2 weeks. Get an answer. The insured pays the premium until his or her death.

B Policy dividends affect the cost of virtually all insurance policies issued today. Added 130 days ago11302021 32324 PM. Starting a family getting married starting a business or switching to a profession where danger is involved are all great reasons to take out a policy.

Which of the following terms best describes a life insurance policy that provides a straight 100000 of coverage for a period of 5 years. 1 hour agoA type of life insurance that guarantees payment of a stated death benefit if the covered person dies during a specified term. Added 1 minute 42 seconds ago4242022 51855 AM.

Which one of the following statements best describes the amount of life insurance that may be used to provide an incidental death benefit to participants in a qualified retirement plan. He dies in a freak accident on June 1. Term insurance is insurance that does not grow in money.

Which statement best defines the term deductible. C Policy dividends are an intentional return of a portion of the premiums paid. If a driver with an insurance policy drives infrequently it can.

If you have a policy of 10000 for 20 years it will be worth 10000 for the entire term of the insurance. Which of the below statement best describes the concept of claim. A provision whereby one life insurance company will guarantee payment of the.

With term life insurance its also simple to choose a policy that. Annual renewable term insurance ART is a type of term life insurance that lasts for a set period of time. It provides benefits to loved ones after someones death.

Which of the following best describes annually renewable term insurance is a tool to reduce your risks. The insured pays a premium for a specified number of years best describes the term life insurance. What statement best describes the term insurance.

A Policy dividends represent earnings to shareowners who hold stock in insurance companies. All of the following best describes Term Life Insurance EXCEPT. Log in for more information.

Which of the following combinations best describe a universal life insurance policy. Which best explains why some people get life insurance and others dont. A The premiums paid for a term life insurance benefit must be.

Which of the following statements best describes what will happen. A A mutual fund and an endowment policy b A term insurance policy and a whole life policy c A modified endowment policy and an annual term insurance policy d A flexible premium deposit fund and a monthly renewable term insurance policy. A life insurance policys contingent beneficiary is the.

Disability insurance help to replace the loss income that the affected person has loss as a result of the disability. Depending on the chosen program you can partially or completely protect yourself from unforeseen expenses. 1A claim is a request that the insurer should make good the promise specified.

21- Which of the following best describes what life insurance is designed to protect against. Sets with similar terms. History 05052020 2109 reese4232.

A 35-year-old woman in excellent health will pay around 21 a month for a 20-year 500000 Haven Term life insurance policy issued by MassMutual probably a lot less than your phone bill. This brings us to cost. A life insurance illustration must contain info regarding the non-guaranteed elements of a policy over time.

And if the accident insurance event occurs the insurance company will bear all or all of the costs in full or in part. It is money paid by a. Which best describes discretionary spending.

Which of the following combinations best describe a universal life insurance policy. One of the things that characterizes term life insurance is that its surprisingly affordable. Paid-up policy that offers lifetime protection.

It provides benefits to loved ones after someones death. It as well cover all the medical. All of the following best describes Term Life Insurance EXCEPT.

Life insurance is a cost that has no direct benefit. The statement that best describes disability insurance is. It pays for doctor visits and preventive medical care.

It is a payment made before a consumer can make a claim. Which statement best describes life insurance. 30-year increasing term c.

It replaces lost income and covers medical expenses. D It is level term insurance. It provides benefits to loved ones after someones death.

Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-year mortgage in the event of the insureds death. Units costs beginning work in process inventory 2500 beginning. Which statement best describes life insurance.

30-year decreasing term d. A provision whereby the company automatically pays the premium out of the loan value and charges it as a loan to the insured if said premium due is not paid within the grace period b. Premiums that can only be paid from a single source b.

2A claim is a demand that the insurer should make good the promise specified.

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