Exam 9: Life and Health Insurance

Sally's employer's insurance company does not offer eye insurance. She has always had 20/20 vision and as a healthy 24 year old assumes her eyes will not change drastically. Should she purchase a vision policy since her employer does not offer such a plan?

Statisticians who specialize in estimating the probability of death based on personal characteristics are known as ________.

In dealing with risk, one can either avoid it, manage it, or transfer it for a fee.

What are the advantages of term life insurance?

Why is health insurance so necessary today?

The individual designated by the owner of the life insurance policy to receive the policy's proceeds upon the death of the insured is called the

Describe the provisions you should consider in choosing a health care policy.

Terra wants a plan to cover catastrophic illnesses and accidents, a comprehensive plan, not the small stuff. The type of health care insurance Terra is describing is major medical.

The policy feature that allows you to pay the premium late but still retain coverage is known as the

Who needs disability insurance?

With term life insurance, the beneficiary receives a fixed death benefit.

With regard to health insurance and emotional and mental disorders

Upon examining her life insurance policy, Sylvia found the cash value amount to be fixed rather than dependent upon other variables. Sylvia has a ________ insurance policy.

Let's assume you are the beneficiary of your great Aunt's life insurance policy. Sadly she passed away yesterday. You elect to receive annual payments from this policy for the next 20 years. The settlement amount is $500,000 and the interest accruing on the policy is an annual 8%. What will be your annual life insurance annuity payments?

A disadvantage of term insurance is that the cost rises each time the policy is renewed.

Which of these life insurance plans holds the annual premium constant but decreases the face value of the policy each year?

Why is the beneficiary decision so important when buying life Insurance?

You should only consider a long-term care policy that includes coverage for Alzheimer's and Parkinson's disease. It should also include which of the following provisions?

Congress worked diligently in 2010 to pass a health care bill designed to make sure that almost all Americans have health insurance coverage. What is the name of this act?

Which of the following statements is true about individual health care policies versus group healthcare policies?