W3 Q1

Kindly help  Which of the following statements about life insurance is NOT accurate? a) permanent insurance puts a portion of the premium paid into investment which the insured then has the potential to cash in and recoup, whereas the premium paid for term insurance is simply a sunk cost for the insured . b) permanent insurance guarantees that the policy will pay out the face value to the beneficiary upon the death of the insured , whereas term insurance won't pay out anything at all once the term has finished. c) Term insurance is almost always less expensive than permanent insurance- both the monthly premium amount as well as the amount typically spent on insurance overall. d) Term insurance is simple life insurance policy that involves a less complicated contract with fewer provisions and exemptions , whereas permanent is the type of insurance that you must take care in reading the detailed fine print in the policy

Briefly explain the following characteristics of long-term care insurance. Type of long-term care policies Triggers to become eligible for benefits Exclusions Protection against inflation

What are the problems with return on premium life insurance? What type of individual would purchase decreasing term insurance?

Whole Life insurance is often called ordinary life, or cash-value life insurance. This type of life insurance also gives you three guarantees. Select those three. The promise that your premium payments will decrease as you progress into your policy A guaranteed minimum rate of return on your cash value account A guaranteed death benefit amount The promise that your premium payments will not go up

If a term life insurance policy isconvertible, it can be: Question38 options: a) revised as neededby the insurer. b) transferred tothe life of another person in thefuture. c) changed to health ordisability protection. d)exchanged for cash in the future.e) changed to a comparablewhole life policy in the future.

9. If Diana wants a life insurance policy that will provide both a fixed death benefit and guaranteed cash value, what type of policy should she consider buying? a. annual renewable term life insurance b. universal life insurance c. whole life insurance d. variable universal life insurance

Which type of insurance has no cash value? Term life insurance Universal life insurance Variable life insurance O All of the above have cash values

Briefly explain the following characteristics of long-term care insurance. Protection against inflation

With regards to group life insurance, which of the following statements are true? 1. An individual employee does not typically have the freedom to select a specific amount of insurance coverage, but rather the amount of coverage is typically a fixed dollar amount, or a variable amount in relationship to the employee's annual income.2. There is typically a change in the premium rate each year.3. Group insurance is normally a permanent type of insurance policy that provides long-term insurance protection for a significant number of Canadians.4. An employee who participates in a group life insurance plan normally has the opportunity to designate a beneficiary.5. Group life insurance plans typically do not apply age restrictions for participation in the plan.

Hello question is attached, thanks.

Which of the following is correct about the effect of a deductible with respect to the price of an insurance policy? O A policy with a deductible will raise the premium. This will make the overall cost of insurance higher for policyholders who do not have a claim, but lower for those with high claims O A policy with a deductible will lower the premium. This will make the overall cost of insurance higher for policyholders who do not have a claim, but lower for those with high claims O A policy with a deductible will raise the premium. This will make the overall cost of insurance lower for policyholders who do not have a claim, but higher for those with high claims O A policy with a deductible will lower the premium. This will make the overal cost of insurance lower for policyholders who do not have a claim, but higher for those with high claims

We said in our Risk Management and Insurance Planning course that Traditional/Non-Guaranteed Life Insurance could be thought of as a combination of Term Life insurance and the Cash Value account feature of Whole Life insurance. Which of the two components provides a death benefit/insurance payout if needed? Term Life component Cash Value account A combination of the Term Life component & Cash Value account None of the above

The least expensive form of whole life insurance protection is:   A. limited payment. B. term. C. universal. D. straight life.

- Why would a person want to purchase Universal Life Insurance? The face value of the policy remains the same forever It provides both pure insurance and cash value build up The cost is so low, a person can have the insurance and invest any amount left over The premium is fixed for the life of the policy