4. Charles is divorced and has custody of a child from the marriage. The child is 6 years old. Janet's husband was killed in a car accident leaving her a widow with children ages 12 and 9. If Charles and Janet were to get married, the new family unit created would be called a(n): a. single-parent family. b. sandwiched family. c. double-income no kids family. d. traditional family. e. blended family. 5. Andy, age 65, paid Standard Insurance Company $250,000 for an immediate annuity. Which of these annuity settlement options will provide Andy with the highest monthly income? a. pure (straight life) annuity d. life income with an installment refund b. life income, 5 years for certain e. joint-and-survivor covering Andy and his c. life income, 10 years for certain 60 year-old wife, Helen 6. Which of the following statements regarding the purchase of life insurance is true? a. If you compare two whole life policies with the same face value, the policy with the lower premium is always the better policy to purchase. b. Everyone should purchase life insurance equal to seven or eight times their annual income. c. Participating (dividend paying) policies should be avoided. d. The amount of life insurance needed may influence the type of life insurance purchased. e. Life insurance agents have greater incentive to sell term insurance than to sell whole life insurance