- You have been quoted a premium of $1,200 per year for $1,000,000 in term life insurance, with the premium fixed for 20 years, and a premium of $4,175 per year for a permanent life insurance policy with an equivalent face value. If you decided to implement the buy term insurance and invest the difference strategy, how much will you accumulate after 20 years at a 6% APY?

. $109,437

. $153,580

. $162,795

. $116,003

- Corey has not paid the premium on his universal life, flexible-premium policy for one month. His insurance company has yet to cancel the policy. Why?

Group of answer choices

. His insurance company is too large to notice

. He has not passed the two-month free look period

. His policy allows him to use accumulated cash value to cover mortality costs for the period

. His insurer is a mutual company rather than a stock company

- Which of the following is a criticism of whole life insurance?

Group of answer choices

. Premiums do not increase with age

. Generally low investment returns

. Higher tax rate than on comparable investments

. Accumulation of cash value