QUESTION 28

1. If you stop paying the premiums on a term life insurance policy, the insurance company will pay you the value of all premiums paid plus interest.

   True

   False

3.33333 points

QUESTION 29

1. Life insurance provides a generally income tax-free lump sum of money for your survivors in the event of your death. The appropriate amount of insurance depends only depends on your age.

   True

   False

3.33333 points

QUESTION 30

1. Your goal is to accumulate $1,000,000 for retirement. Your plan is to retire in 50 years. In 40 years, you will be 70 years old. How much will you have to invest at the end of the year for 50 years to reach your goal if your investments grow at 5% per year compounded annually

   The answer is between $4,700 an $4,800.

   https://investingtothrive.com/financial-goals-how-to-reach-them-basic-formulas/

   True

   False