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Exam 9: Life and Health Insurance

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Question 51

Multiple Choice

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Of the following life insurance policies - term,whole life,universal life,variable life - two have fixed death benefits.Which are they?

A) Term and variable life
B) Term and universal life
C) Term and whole life
D) Whole life and universal life
E) Whole life and variable life

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Question 52

Multiple Choice

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Your agent has told you to think about immediate needs at the time of death,debt elimination funds,immediate transitional funds,dependency expenses,spousal life income,educational expenses for the children,and retirement income.What has he described?

A) The multiple earnings need approach
B) The needs approach
C) The standard approach
D) The combination approach
E) The long-term approach

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Question 53

Essay

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Compare and contrast fee-for-service and managed health care plans.

Which of the following factors is connected with convertible term life insurance?

Life insurance and health insurance are designed to transfer the catastrophic risk you can't afford to keep onto the insurance companies.

The primary advantage of term insurance is a flexible premium.

Which of the following term plans is intended to cover an individual's outstanding debt?

Define disability insurance and give the common sources of it.

James is employed by the university.Yesterday he fell outside of his office due to water on the floor.He broke his leg in two places.What type of health care plan will cover James' expenses?

Using the needs approach to determine the amount of coverage looks from the perspective of the

Compare and contrast the three basic types of HMOs.

Medicare part ________ pays for doctor's fees/medical services/supplies,while part ________ pays for hospital insurance benefits.

Provide seven tips on shopping for any health care insurance.

If you can afford health insurance but don't have it,you may have to pay a fee or penalty.

What factors should be considered when selecting a life insurance policy?

How is variable life different from universal life and term insurance? Who is it best suited for?

Why is being the policy owner so important?

You might consider another insurance agent if your agent uses the ________ method to analyze the costs of a policy.

With term life insurance,the beneficiary receives a fixed death benefit.

If your employer doesn't provide them,then it might not be a financially wise decision to purchase dental and eye insurance.