Question
1) A restaurant customer typically has no insurable interest in the restaurant, while the owner does. True False 2) Don owned a $1 million life
1) A restaurant customer typically has no insurable interest in the restaurant, while the owner does.
True
False
2) Don owned a $1 million life insurance policy on his own life. In 2013, he transferred ownership of the policy to his only son, who was the beneficiary of the policy. If Don dies in 2015, the proceeds of the life insurance policy will not be included in Dons estate.
True
False
3)Homeowners must purchase separate policies in addition to the homeowner policy to cover additional perils such as flood and earthquake.
True
False
4)Regarding life insurance, which of the following is the amount of funds required to fund reserves needed to pay death benefits?
Mortality Costs | ||||||||||||
Investment Performance | ||||||||||||
Term Insurance Element | ||||||||||||
Administrative Costs 5)Which of the following life insurance is the traditional cash value policy with level premium payments designed to remain in force over the entire life of the insured?
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