Which life insurance policy allows you to change your premium without changing your coverage? A:Whole life....

Which life insurance policy allows you to change your premium without changing your coverage?

A:Whole life.

B:Ordinary life.

C :Universal life.

D:Adjustable life.

E:Variable life.

Expert Solution

C:Universal life

The Universal life policy is one with an investment savings element and low premiums. They contain a flexible premium option.

Whole life policy is a life insurance which remains in force for the entire lifetime of the insures, provided the premiums are paid in time or till the time of maturity. This is the same asOrdinary life policy. Adjustable life policy allows policyholders the option to adjust policy features. Variable policy is a permanent life insurance policy which comes with an investment component.

jeff jeffy answered 2 years ago

You purchase a life insurance policy which involves making 5 annual premium payments (the first payment...

You purchase a life insurance policy which involves making 5 annual premium payments (the first payment starting today). The original premium is $1800 and the premium increases 4% each year. Now assume the insurance company offers you a level payment plan that has the same present value as the payment stream above but where all the premiums are the same. If the insurance company earns 10% compounded annually on its assets, what would the level payments be?

Which is not a right of ownership in a life insurance policy? Receive dividends Change settlement...

Which is not a right of ownership in a life insurance policy? Receive dividends Change settlement options Change irrevocable beneficiaries at will Borrow against the policy

Research the differences in the premium costs for a $100,000 whole life insurance policy and a...

Research the differences in the premium costs for a $100,000 whole life insurance policy and a $100,000 term life insurance policy. Which is more expensive? Why is there a price difference between the two? Which would you prefer and why?

A not-for-profit hospital carried a 2year malpractice insurance policy that allows for retroactive premium adjustments based...

A not-for-profit hospital carried a 2year malpractice insurance policy that allows for retroactive premium adjustments based on experience (claims actually incurred )The basic premium is $ 300,000 for the 2year period payable in advance The policy period starts on the first day of the first yearAt the end of the first year the hospital estimates that it will have to pay an additional $80,000 in premiums as a result of claims filed in the current year and it estimates that...

Robert Weed is considering purchasing life insurance. He must pay a $180 premium for a $100,000 life insurance policy.

Robert Weed is considering purchasing life insurance. He must pay a $180 premium for a $100,000 life insurance policy. If he dies this year, his beneficiary will receive $100,000. If he does not die this year, the insurance company pays nothing and Robert must consider paying another premium next year. Based on actuarial tables, there is a 0.001 probability that Robert will die this year. If Robert wishes to maximize his EMV, he would not buy the policy if the...

On February 1, 2017, a company paid an $21,600 premium on a 36-month insurance policy for coverage beginning on that date.

On February 1, 2017, a company paid an $21,600 premium on a 36-month insurance policy for coverage beginning on that date. Refer to that policy and fill in the blanks in the following table. -Can Not Copy Table-- Table is for Balance Sheet-PrePaid Insurance And Income statement-Insurance expense

Which of the following will change genotypic frequencies in a population without also changing allelic frequencies?...

Which of the following will change genotypic frequencies in a population without also changing allelic frequencies? A. Assortative mating B. Genetic drift C. Migration D. Natural Selection E. All of the above change both allelic and genotypic frequencies

A customer buys a $250,000 life insurance policy with an annual premium of $300. Her probability...

A customer buys a $250,000 life insurance policy with an annual premium of $300. Her probability of dying during the year is 0.001. If she dies, the insurance company will have to give her beneficiary $250,000. a) If there is a 0.001 chance she dies, what is the probability she does not die? b) Fill in the table below, let X= Amount the insurance company makes. X P(X) c) Use a computer or calculator: What is the insurance company’s expected...

What changes would you recommend for the Brock's life insurance coverage?

Life Situation Financial Data Pam, 43 Josh, 45 3 Children, ages 16, 14 and 11 Monthly income $4,900 Living expenses $4,450 Assets $262,700 Liabilities $84,600 Emergency Fund $5,000 With three dependent children, the Brocks are assessing their life insurance. Pam has $5,000 of coverage. Josh has life insurance coverage equal to approximately eight times his annual salary. With approximately 20 years to retirement, Pam and Josh Brock want to establish a more aggressive investment program to accumulate funds for their...

You are the beneficiary of a life insurance policy. The insurance company informs you that you...

You are the beneficiary of a life insurance policy. The insurance company informs you that you have two options for receiving the insurance proceeds. You can receive a lump sum of $60,000 day or receive payments of $641 a month for ten years. You can earn 6.5% on your money. Which.ontion should you take and why? (Show all calculations for full credit.

Question