Which of the following types of life insurance will have the lowest premium payments for young folks and is great for insurance goals that have a specific time limit? A. Term Life Insurance B. Whole Life Insurance C. Variable Universal Life Insurance D. Cash Value Insurance Please use the "Needs Approach" to determine the recommended life insurance coverage for Jun-Li. She would like to have enough insurance to meet her final expenses ($15,000), pay off her loans, and provide 5 years of income for her survivors. Jun-Li has a mortgage balance of $100,000, an auto loan balance of $15,000, credit card debt of $2,000, and a federal student loan with a balance of $32,500. Her annual salary is $50,000. How much life insurance coverage would you recommend to Jun-Li to be sure her goals are met? A. $132,000 B. $412,500 C. $414,500 D. $382,000 Next question The primary difference between a health savings account (HSA) and a flexible spending account (FSA) is: A. The funds in an HSA can "roll over" to the following years if you do not use them this year, but the unused funds in an FSA are usually forfeited at the end of the year. B. You can only use an FSA with a traditional "reimbursement" health care plan and not with an HMO or PPO plan. C. Anyone can have an FSA but only people who have a low-deductible health plan (LDHP) can make contributions to an HSA. D. HSA plans are only available with HMOs and FSA plans are only used with PPO insurance. You might have to choose between "own occupation" and "any occupation" disability insurance. Which of the following is the most true statement? A. "Any occupation" insurance will usually have higher premiums because you are more likely to be disabled such that you can't work at any other occupation. B. "Own occupation" insurance will pay benefits when you are unable to perform your specific occupation. It will have higher premium payments than "any occupation" insurance. C. "Own occupation" insurance makes more sense for people who work in jobs that are relatively common, while "any occuparion" insurance is usually better for people who have highly specialized occupations. D. With "any occupation" insurance you will receive benefits when you can't work at your chosen occupation, but you can continue to work at any other occupation and still receive disability benefits