Question

In: Finance

Which of the following are examples of principal types of life insurance?

  1. Which of the following are examples of principal types of life insurance?

    1.      Term life policies

    2.     Whole life policies

    3.      Universal life policies

    4.     Both (a) & (b)



Solutions

Expert Solution

Mainly there are two types of life insurance that is term life policies and whole life policy. The term life policy insurance individual in case of death for the term of the policy. In a whole life policy the person is insured for as many years as he lives. Hence, the correct option is-

D. Both a and b

Do leave an upvote if you find this helpful. In case of any doubt please let me know in the comment section.

jeff jeffy answered 2 years ago
Next > < Previous

Related Solutions

The two types of insurance companies are life insurance companies and ____ & ____ insurance companies....
The two types of insurance companies are life insurance companies and ____ & ____ insurance companies. (no answer choices available)
1. Which of the following is the major advantage of term insurance relative to life insurance...
1. Which of the following is the major advantage of term insurance relative to life insurance policies like whole life and universal life that build up cash values? a. No need for a physical examination when renewing b. Constant price across a person's lifetime c. Readily convertible to cash d. Provides a greater choice of investments e. Has lower initial premiums 2.Which of the following betas probably indicates a speculative stock that is more risky and volatile than a broad...
life and health insurance 3. which of the following is not a requirement of a qualified...
life and health insurance 3. which of the following is not a requirement of a qualified plan? 4. under the one-year term dividends option the dividends is used to buy term covers for a year with the amount of term coverage usually limited to the ? 5. which of the following is true about agents life insurance? sales advertisement in sate? 6. which is one of the factors that determines life premiums? 10. which rider allows the policyowner to increase...
An insurance agent plans to sell three types of policies— homeowner’s insurance, auto insurance and life...
An insurance agent plans to sell three types of policies— homeowner’s insurance, auto insurance and life insurance. The average amount of profit returned per year by each type of insurance policy is as follows: Policy                            Yearly Profit/Policy Homeowner’s               $50 Auto 40 Life 75 Each homeowner’s policy will cost $18.20, each auto policy will cost $14.50 and each life insurance policy will cost $30.50 to sell and maintain. He has projected a budget of $80,000 per year. In addition, the...
An insurance agent plans to sell three types of policies— homeowner’s insurance, auto insurance and life...
An insurance agent plans to sell three types of policies— homeowner’s insurance, auto insurance and life insurance. The average amount of profit returned per year by each type of insurance policy is as follows: Policy/Yearly Profit/Policy Homeowner’s $50 Auto 40 Life 75 Each homeowner’s policy will cost $18.20, each auto policy will cost $14.50 and each life insurance policy will cost $30.50 to sell and maintain. He has projected a budget of $80,000 per year. In addition, the sale of...
There are four primary different types of life insurance, term, whole life, universal life and variable...
There are four primary different types of life insurance, term, whole life, universal life and variable life. Identify the primary characteristics of each and why someone might choose each type.
Why do we need life insurance? Who needs life insurance? Describe the different policy types and...
Why do we need life insurance? Who needs life insurance? Describe the different policy types and the advantages and disadvantages of each?
Which of the following benefits is discretionary? Unemployment insurance Life insurance Social Security Workers' Compensation
Which of the following benefits is discretionary? Unemployment insurance Life insurance Social Security Workers' Compensation
Which of the following is not a valid method for determining life insurance needs? Group of...
Which of the following is not a valid method for determining life insurance needs? Group of answer choices The Financial Needs Method. The Human Life Value Method. The Dependency Method. The Capitalization of Earnings Method.
Which of the following is not an underwriting factor for an individual life insurance policy? Medical...
Which of the following is not an underwriting factor for an individual life insurance policy? Medical history of applicant Age and sex of the applicant Nationality of applicant Occupation and hobbies of applicant
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT