Fang's sister Bai contacts Sunrise Insurance Inc., an insurance company, to inform them that her brother Fang died last week. Fang owned a $500 000 life insurance policy where he named his wife Alix primary beneficiary and his sister Bai contingent beneficiary. Bai informs them that Alix died 6 months ago of a heart attack and that she is entitled to the death benefit. How will Sunrise Insurance proceed with the payment of the death benefit? Select one correct answer from the list 1. Sunrise Insurance will automatically pay the benefit to Bai. 2 Sunrise Insurance will pay the benefit to Alix's estate. 3. Sunrise Insurance will pay the benefit to Fang's estate. 4. Sunrise Insurance will ask for proof of Alix's death before they pay Bai. O O Gina is a 41-year-old woman who would like to purchase a permanent life insurance policy. She meets with Joel, her insurance agent, to complete a thorough needs analysis. Once completed, he determines that she needs a $250,000 coverage. Gina agrees but says that she wants this policy at a low cost. Which of the following options would best suit Gina's needs? Select one correct answer from the list 1. A $250,000 participating whole life insurance policy. 2 A $250,000 non-participating whole life insurance policy. 3. A $250,000 Term-100 life insurance policy. 4. A $250,000 universal life policy plus cumulative premiums. O O O
Fang's sister Bai contacts Sunrise Insurance Inc., an insurance company, to inform them that her brother Fang died last week. Fang owned a $500 000 life insurance policy where he named his wife Alix primary beneficiary and his sister Bai contingent beneficiary. Bai informs them that Alix died 6 months ago of a heart attack and that she is entitled to the death benefit. How will Sunrise Insurance proceed with the payment of the death benefit? Select one correct answer from the list 1. Sunrise Insurance will automatically pay the benefit to Bai. 2 Sunrise Insurance will pay the benefit to Alix's estate. 3. Sunrise Insurance will pay the benefit to Fang's estate. 4. Sunrise Insurance will ask for proof of Alix's death before they pay Bai. O O Gina is a 41-year-old woman who would like to purchase a permanent life insurance policy. She meets with Joel, her insurance agent, to complete a thorough needs analysis. Once completed, he determines that she needs a $250,000 coverage. Gina agrees but says that she wants this policy at a low cost. Which of the following options would best suit Gina's needs? Select one correct answer from the list 1. A $250,000 participating whole life insurance policy. 2 A $250,000 non-participating whole life insurance policy. 3. A $250,000 Term-100 life insurance policy. 4. A $250,000 universal life policy plus cumulative premiums. O O O
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
7
Transcribed Image Text:Fang's sister Bai contacts Sunrise Insurance Inc., an insurance company, to inform them that her
brother Fang died last week. Fang owned a $500 000 life insurance policy where he named his wife Alix
primary beneficiary and his sister Bai contingent beneficiary.
Bai informs them that Alix died 6 months ago of a heart attack and that she is entitled to the death
benefit.
How will Sunrise Insurance proceed with the payment of the death benefit?
Select one correct answer from the list
1. Sunrise Insurance will automatically pay the benefit to Bai.
2 Sunrise Insurance will pay the benefit to Alix's estate.
3. Sunrise Insurance will pay the benefit to Fang's estate.
4. Sunrise Insurance will ask for proof of Alix's death before they pay Bai.
O O
Transcribed Image Text:Gina is a 41-year-old woman who would like to purchase a permanent life insurance policy. She meets
with Joel, her insurance agent, to complete a thorough needs analysis. Once completed, he determines
that she needs a $250,000 coverage. Gina agrees but says that she wants this policy at a low cost.
Which of the following options would best suit Gina's needs?
Select one correct answer from the list
1. A $250,000 participating whole life insurance policy.
2 A $250,000 non-participating whole life insurance policy.
3. A $250,000 Term-100 life insurance policy.
4.
A $250,000 universal life policy plus cumulative premiums.
O O O
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