Question 25 Which of the following statements about whole life insurance is true: It provides protection for a fixed period of time It develops a cash value that, with some limitations, is available for the insured to use during the life of the policy. It has an annual premium that is usually less than premium for a comparable amount of term life insurance It is a form of term insurance that is convertible to universal life insurance. Question 26 Defined benefit pension plans.... Are the most popular form of employer-sponsored retirement plans. Guarantee that the employer will contribute a stated amount towards the employee's retirement account Are the most risky type of employer-sponsored retirement plans for employees Guarantee the employee will receive a stated amount of monthly income when retired. Question 27 Which one of the following statements about disability loss exposures is true? Because of Social Security disability income benefits, there is little need for personal disability insurance. In addition to lost income, disability often results in medical expenses that must be paid. An employee can use money in his/her defined benefit plan retirement plan to pay for income that is lost when he/she is unable to work. Most families have the resources to sustain themselves through relatively long periods of disability