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Exam 9: Life and Health Insurance

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Question 111

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Why is health insurance so necessary today?

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Health insurance is necessary to pay for...

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Question 112

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List the required health benefits that health care plans must provide under the Affordable Care Act.

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-Ambulatory patient services
-Emergency ...

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Question 113

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The individual designated by the owner of the life insurance policy to receive the policy's proceeds upon the death of the insured is called the

Explain the advantages and disadvantages of medical reimbursement accounts.

Charles is the sole beneficiary of his late uncle's life insurance policy.The face value of the policy is $785,000.Charles has decided to accept annual annuity payments of $95,000.The interest rate on the policy is 5%.How many annual payments will Charles receive from this policy?

Cash value policies include a ________ clause that allows you to borrow against the cash value of the policy.

Using the earnings multiple approach calculate how much life insurance Heather and Robert need to take out on Heather.She earns $80,000 and is 37 years old.They want coverage until she retires at age 67.Robert is sure he can get an annual rate of return on the policy settlement of 8%.They have no children.

Life insurance may not be necessary if

If you have a good comprehensive health care policy,paying extra for disability income coverage is not a good use of your scarce insurance budget.

What are some good reasons for a young,healthy,single person to purchase life insurance?

Which of the following statements is true about individual health care policies versus group healthcare policies?

________ is insurance that provides permanent insurance coverage as whole life does;however the policyholder,not the insurance company,takes on the investment risk.