Exam 15: Life Insurance Policies

Your best friend discovers you just took an introductory insurance course. He asks you what type of life insurance policy he should buy, given that he is 28 years old. Which type of life insurance should you recommend?

The primary reason life insurance policies have a savings element is to allow the:

Which of these is the least appropriate use for whole life insurance?

All of the following are true of level premium ordinary whole life insurance except:

What are the features that distinguish universal life from traditional forms of life insurance?

Which of the following is not correct with respect to universal life insurance?

Choose the item below that is notrue for group life insurance.

Why does the death benefit increase under certain conditions in the universal life Plan A (fixed face amount)?

Under a group life insurance plan, in general, individuals do not have to pass an insurer's medical examination.

In general, what are the uses for term life insurance? Provide examples.

When life insurance is provided on a level premium basis, the premium payments increase as the insured ages.

After taking an introductory course in insurance, your parents ask you what type of life insurance policy they should purchase if they want permanent death protection and the potential for earning a relatively high rate of return on their cash value. Which type of life insurance would you suggest?

If a term life policy is convertible, the insured has the option to convert it to:

A universal life insurance policy (ULI) is considered to be:

All the following are advantages of level premium whole life insurance except:

Explain why there is a savings element to a whole life insurance contract.

Which of the following is a permanent need for purchasing life insurance?

Which of the following isnot a characteristic of universal life insurance?

Mortality tables assume that all people die at age 95.

Which statement about variable universal life insurance is false?