Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN: 9780357033609
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
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Chapter 8, Problem 5LO
Summary Introduction
To identify: The best life insurance policy as per the individuals’ needs at the lowest cost.
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Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
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- What are the problems with return on premium life insurance? What type of individual would purchase decreasing term insurance?arrow_forwardWhat were your feelings about your need for life insurance before you read this chapter? What are they now? What is the difference between Term and whole life insurance? Which one do you prefer? and why?arrow_forwardPros and cons of long-term care insurance. Discuss the pros and cons of long-term-care insurance. Does it make sense for anyone in your family right now? Why or why not? What factors might change this assessment in the future?arrow_forward
- Having convertible term life insurance is especially beneficial if you run into severe health issues as you age. True O Falsearrow_forwardThe best strategy for health insurance coverage is to purchase a comprehensive policy. Of the following, which additional coverage should you not buy if it is not provided at work or in your individual policy? ○ Accident Terminal Disease O Dental O Eyewear O You should not buy any of the abovearrow_forwardDiscuss the potential for adverse selection when insureds exercise the renewability or convertibility option in a term life insurance policy. Which is more likely to be affected by adverse selection.arrow_forward
- Why is health insurance a necessity?arrow_forwardCompare whole-life and term insurance.arrow_forwardIn the context of the health insurance and the life insurance, choose the sentence that IS NOT CORRECT: * The deductible in a health insurance is an amount of money the insured must pay before benefits become payable by the insurance company. When we buy a health insurance, we should make sure that we have enough insurance (the opportunity cost of not being adequately insured can be extremely high), but without wasting money by overinsuring Group Health Insurance (most of them being employer sponsored) represents a small percentage (around 5%) of all health insurance issued by health and life insurance companies. In a life insurance, a person purchases a policy by paying a premium and the insurance company promises to pay a sum of money at the time of the policyholder’s death to the designated beneficiary.arrow_forward
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Pfin (with Mindtap, 1 Term Printed Access Card) (...FinanceISBN:9780357033609Author:Randall Billingsley, Lawrence J. Gitman, Michael D. JoehnkPublisher:Cengage Learning
Pfin (with Mindtap, 1 Term Printed Access Card) (...
Finance
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Cengage Learning