Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sven (age 38) and Nancy (age 34) have two children, Barry (age 4) and Brianna (age 2). Nancy is a business manager and Sven works

Sven (age 38) and Nancy (age 34) have two children, Barry (age 4) and Brianna (age 2). Nancy is a business manager and Sven works part-time at a local grocery store. The couple meet with an insurance agent to discuss obtaining life Insurance and their main objective is to provide coverage for Nancy as the main income earner. They also would like to have some level of coverage on Sven and mention that having some level of insurance on their children would also be desirable. If Sven and Nancy were to add a family coverage rider, which of the following statements is CORRECT a) Sven and Nancy will need to purchase additional coverage at a higher premium if they have another child, b) The coverage for Sven will be underwritten based on Nancy's age when the rider is issued c) The term coverage on their children cart extend beyond the coverage for Nancy d) If Sven and Nancy have another child, the new child will be covered without an increase in premium

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Marketplace Lending Financial Analysis And The Future Of Credit Integration Profitability And Risk Management

Authors: Ioannis Akkizidis, Manuel Stagars

1st Edition

1119099161, 978-1119099161

More Books

Students also viewed these Finance questions

Question

Different types of Grading?

Answered: 1 week ago

Question

Explain the functions of financial management.

Answered: 1 week ago

Question

HOW MANY TOTAL WORLD WAR?

Answered: 1 week ago

Question

Discuss the scope of financial management.

Answered: 1 week ago