2. Which of the Following Best Describes Term Life Insurance

Which of the following best describes term life insurance. It should be noted that coverage is also for a specified number of years.

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Which of these statements is true.

. The insured pays the premium until his or her death. Term insurance does not build cash value. Whole life insurance does not build cash value.

It provides an annually increasing death benefit. The Emerson first national bank is lending you money to buy a. The choice that best describes term life insurance is.

Added 4142012 54814 PM. Term life insurance does not pay a death benefit. The type of policy that can be changed from one that does not accumulate cash value to the one that does is a.

Term life insurance also known as pure life insurance is a type of life insurance that guarantees payment of a stated death benefit if the covered person dies during a. CFlexible Premium Variable Life policy. Jan 28 2019 Term life insurance is a simple affordable type of life insurance policy that covers you for a set period of time called the term which Missing.

The insured pays the premium until his or her death. Which of the following best describes term life insurance. Which of the following best describes term life insurance.

The insured pays a premium for a specified number of years. Depending on the chosen program you can partially or completely protect yourself from unforeseen expenses. An insured has a variable life policy with a 100000 face amount.

Which of the following BEST describes a conditional insurance contract. Which of the following best describes annually renewable term insurance. When the insured reaches age 100.

Cash value does not earn interest and is therefore not taxable. Which of the following best defines target premium in a universal life policy. Which of the following best describes the concept that the insured pays a small amount of premium for a large amount of risk on the part of the insurance company.

Whole life insurance has a lower premium per 1000 of coverage. This means that youll slowly accumulate money the longer you hold the account. The insured pays a premium for a specified number of years best describes term life insurance.

The insured can borrow or collect the cash value of the policy. Is a tool to reduce your risks. The insured is covered during his or her entire lifetime.

Expert answered Walletro Points 226968. What happens at the end of the 10-year term. Which of the following best describes term life insurance.

The insured can borrow or collect the cash value of the policy. The insured pays a premium for a specified number of years. Term insurance does not build cash value.

Which of the following best describes term life insurance is a tool to reduce your risks. It is level term insurance. The insured pays a premium for a specified number of years best describes term of life insurance.

Life insurance can be Term or Whole Life. With answer 4 a whole-life or universal life policy both offer a cash-value savings account that is tax deferred. In the following year the cash value took a significant decline and was worth only 70000.

Written for a specified time period. At one time the cash value exceeded 100000 and was worth 150000. Which of the following best describes term life insurance.

If the policy cash value is surrendered the interest earned on the cash value is taxable as ordinary income. Which of the following best describes term life insurance. Cash value grows tax-free.

Weegy Must include. Term insurance is paid over a short period of time such as 1 time a. Which of the following best describes term life insurance.

And if the accident insurance event occurs the insurance company will bear all or all of the costs in full or in part. Neither the premium nor the death benefit is affected by the insureds age. During this time the policy face amount was increased to 150000.

All of the following best describes Term Life Insurance EXCEPT. An insured purchased a 10-year level term life policy that is guaranteed renewable and convertible. The insured pays a premium for a specified number of years.

The insured can borrow or collect the cash value of the policy. The face amount and premium will remain constant over the 10-year period. And if the accident insurance event occurs the insurance company will bear all or all of the costs in full or in part.

Premiums paid by an individual on hisher own life insurance. The following best describes term life insurance. The insured is covered during his or her entire lifetime.

Orissa purchases a 10-year level term life insurance policy that has a death benefit of 200000. Which of the following combinations best describe a universal life insurance policy. The insured is covered during his or her entire lifetime.

Limited pay whole life. The insured pays the premium until his or her death. A A mutual fund and an endowment policy b A term insurance policy and a whole life policy c A modified endowment policy and an annual term insurance policy d A flexible premium deposit fund and a monthly renewable term insurance policy.

Which of the following statements best describes how cash value in a life insurance policy is taxed. Depending on the chosen program you can partially or completely protect yourself from unforeseen expenses. The insured pays a premium for a specified number of years.

This answer has been confirmed as correct and helpful. However we still believe a term life insurance. Premiums paid by an employer on a 30000 group term life insurance plan for employees 3.

Log in for more information. None of the above. Term life insurance allows you to save money and place it into other accounts that will grow.

When would a 20-pay whole life policy endow.

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