17) Which of the following types of life insurance provides no savings element? A) term B) whole C) universal D) none of the above have a savings element. Answer: A 18) Which of the following is true of life insurance companies? A) They hold long-term assets that are not particularly liquid. B) They hold short-term liquid assets.
Which life insurance policy usually requires the insured to pay a level premium for the duration of the policy, and the overpayment accumulates as a cash value that can be borrowed by the insured at reasonable rates? A) whole life B) term C) universal life D) none of the above
5 life insurance provides no frills insurance protection and does not include a from FINANCE PERSONAL F at Michigan State University. ... 5 life insurance provides no frills insurance protection and does not include a. ... Course Title FINANCE PERSONAL F; Uploaded By CountGuineaPig1265. Pages 34 This preview shows page 33 - 34 out of 34 pages ...
This problem has been solved! Which of the following types of life insurance provides no savings element? Who are the experts? Experts are tested by Chegg as specialists in their subject area. We review their content and use your feedback to keep the quality high. a) …. View the full answer.
1. The following type (s) of life insurance policies do not have a savings feature:
1. The correct answer is option A TheTerm Life insurance policy does not have a savings feature. Term life policies are p view the full answer
An adjustable life insurance policy -. A policy that offers the policy owner the option to adjust the policy face amount, premium, type of protection, and/or length of protection, without having to complete a new application or actually exchange policies.
Advantage of Whole Life policies : It is permanent insurance and can be used to satisfy permanent needs such as the cost of death, dying, and final burial expenses. - the level premium allows the policy owner to know exactly what the cost of insurance will be and offers a form of forced savings.
This is particularly important when there is a clear need for additional protection. Ex. A husband has a relatively small whole life policy and becomes a father of twins.
The ability to take a loan against the policy. Term Insurance: Provide temporary insurance protection for a specified period of time, also called the policy term (for example, the term may be 1 year, 5 years, 10 years, 30 years, or to a specified age such as 65).
A. Joint Life policies written on a survivorship basis - A whole life contract written with two or more persons as named insureds with the insured amount payable on the death of the first insured. B. Minimum Deposit Policy -A method of paying for insurance and not a type of policy.
Convertible term insurance-Allows a policy owner to convert or exchange the temporary protection for some form of permanent protection without evidence of insurability. The conversion must be made prior to expiration of the term. When a policy is converted, the premium will be based on attained age.
C. Family Income policy - because it provides an income for a stated number of years from the insureds death. Combining whole life insurance with decreasing term coverage, the family income policy provides an income to be paid upon the death of the breadwinner.