Focus on Personal Finance (6th Edition)

Chapter 10

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Life insurance is an insurance contract that gives... more

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Endowment life insurance must be purchased because... more

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Life insurance is a contract in which the insurer ... more

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Life insurance needs can be ascertained by using ... more

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Insurance is a protection against losses provided ... more

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The two types of insurance companies are stock ... more

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The five forms of term insurance are Renewable ... more

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Forms of whole life insurance are as follows:... more

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Insurance is a protection against losses provided ... more

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Insurance is a protection against losses provided ... more

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Insurance is a protection against losses provided ... more

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Insurance is an agreement in which the insurance ... more

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Insurance is a protection against losses provided ... more

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Insurance is a protection against losses provided ... more

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The life insurance  key provisions are:Naming the ... more

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A rider is a document attached to a policy to ... more

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Various riders are:Waiver of premium for ... more

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Things to be considered while selecting an agent ... more

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Settlement options are:Lump sum paymentLimitation ... more

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The coverage is provided for a certain period of ... more

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 An annuity is a financial agreement drafted by an... more

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Annuity is a fixed sum paid by the insurance ... more

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An immediate annuity is the amount of annuity ... more

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It is not advisable for people with poor health to... more

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The annuity where a person receives a fixed amount... more

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An individual needs life insurance if other people... more

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; Substitute 10 for adj and 12 for opp into the ... more

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$196,000  ; Insurance is the contract that ... more

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 $62,000 ; Calculate the total debt by adding the ... more

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 $140,000 ; Calculate the age difference by ... more

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The term life insurance policy is the least ... more

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The following steps can be used to determine life ... more

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 The average number of additional years that a ... more

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$367,500 ; Family life insurance is a single ... more

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$120,000 ; Calculate the total amount of debt by ... more

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$80,000 ; Calculate the remaining age by ... more

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$130,000 ;  Calculate the remaining age by ... more

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 $300 ;  The administrative fee is the fee charged... more

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 $245 ;  Calculate the withdrawable amount by ... more

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$625 ; A fee charged for unexpected events, such ... more

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The four methods that are considered for ... more

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An appropriate discussion with the family members ... more

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Term-life insurance policy and whole life ... more

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Yes, additional insurance is required by Person J ... more

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The characteristics that Person R and Person J ... more

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$357,700 ; Multiply the current gross income of $... more

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Person R and Person J would have to use an index (... more

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The life insurance that will be suggested to ... more

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As the fixed expenses cannot be effectively ... more

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An individual can be considerate of a few factors ... more

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The reasons of people buying life insurance are:... more

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Methods to determine the amount of life insurance ... more

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