Delphine purchased a $150,000 20-year term life insurance policy 8 years ago. She paid an annual premium of $480. Last week, she died at the age of 43. Her sister Gertrude, who is the beneficiary of the policy, meets with Tyson, an insurance agent, to provide him with documentation of Delphine's death. While reviewing the file, Tyson realizes that Delphine was 35 when she purchased the policy, not 34 as indicated in her paperwork, and she should have been paying $500 in annual premiums. How much will the insurer pay Gertrude? Select one correct answer from the list 1. O 2 144,000 3. 150,000 4. 156,250 ОО Marianne is a 43-year-old tax attorney who wants to buy life insurance. Marianne's husband Gaetan, 61, is a retired police lieutenant with a substantial pension benefit that provides him and his family with a comfortable lifestyle. The couple has two children: Penny, who is in high school, and Leonard, who is in university on a full scholarship. Marianne's mother Beatrice lives in a retirement home that Marianne pays for. Which of Marianne's family members will experience the greatest financial loss if Marianne were to die prematurely? Select one correct answer from the list 1 2. Gaetan Penny 3. Leonard 4 Beatrice » 0 0 0 0
Delphine purchased a $150,000 20-year term life insurance policy 8 years ago. She paid an annual premium of $480. Last week, she died at the age of 43. Her sister Gertrude, who is the beneficiary of the policy, meets with Tyson, an insurance agent, to provide him with documentation of Delphine's death. While reviewing the file, Tyson realizes that Delphine was 35 when she purchased the policy, not 34 as indicated in her paperwork, and she should have been paying $500 in annual premiums. How much will the insurer pay Gertrude? Select one correct answer from the list 1. O 2 144,000 3. 150,000 4. 156,250 ОО Marianne is a 43-year-old tax attorney who wants to buy life insurance. Marianne's husband Gaetan, 61, is a retired police lieutenant with a substantial pension benefit that provides him and his family with a comfortable lifestyle. The couple has two children: Penny, who is in high school, and Leonard, who is in university on a full scholarship. Marianne's mother Beatrice lives in a retirement home that Marianne pays for. Which of Marianne's family members will experience the greatest financial loss if Marianne were to die prematurely? Select one correct answer from the list 1 2. Gaetan Penny 3. Leonard 4 Beatrice » 0 0 0 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Delphine purchased a $150,000 20-year term life insurance policy 8 years ago. She paid an annual
premium of $480. Last week, she died at the age of 43. Her sister Gertrude, who is the beneficiary of
the policy, meets with Tyson, an insurance agent, to provide him with documentation of Delphine's
death. While reviewing the file, Tyson realizes that Delphine was 35 when she purchased the policy, not
34 as indicated in her paperwork, and she should have been paying $500 in annual premiums.
How much will the insurer pay Gertrude?
Select one correct answer from the list
1. O
2 144,000
3. 150,000
4.
156,250
ОО
Transcribed Image Text:Marianne is a 43-year-old tax attorney who wants to buy life insurance.
Marianne's husband Gaetan, 61, is a retired police lieutenant with a substantial pension benefit that
provides him and his family with a comfortable lifestyle. The couple has two children: Penny, who is in
high school, and Leonard, who is in university on a full scholarship. Marianne's mother Beatrice lives in
a retirement home that Marianne pays for.
Which of Marianne's family members will experience the greatest financial loss if Marianne were to die
prematurely?
Select one correct answer from the list
1
2.
Gaetan
Penny
3. Leonard
4 Beatrice
»
0 0 0 0
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