Which of the following is a reason to buy life insurance?

What are 3 reasons that a teenager might consider buying life insurance?

What is the best reason to purchase life insurance rather than annuities?

The annuity offers tax-deferred savings and retirement income. Simply put—life insurance protects your loved ones if you die prematurely while the annuity protects your income if you live longer than expected.

What are life insurance annuities?

As the beneficiary of a life insurance policy, one option is to receive the death benefit as an annuity. ... With an annuity, you make a large payment to an insurance company upfront, and in return, you receive set monthly payments for as long as you continue to live.

For what reason my life insurance producer backdate a life insurance policy?

So having a life insurance age change during underwriting is most likely going to result in a higher final premium when the policy is issued. To prevent this change in premium, a policy may be backdated to save the previous age of the applicant.

What is life insurance annuity definition?

Life annuities are insurance or investment products that provide the beneficiary with fixed payments at regular intervals—either monthly, quarterly, annually, or semi-annually. ... During this period, the issuer or insurance company makes regular payments to the annuitant.

Why do kids need insurance?

Children should have health insurance to help ensure that they receive the preventive health services they need and can be covered for care if they become sick or injured. have preventive care -- including check-ups and dental care -- so they can stay healthy. ...

What's the benefit of life insurance?

Life insurance benefits can help replace your income if you pass away. This means your beneficiaries could use the money to help cover essential expenses, such as paying a mortgage or college tuition for your children. It can also be used to pay off debt, such as credit card bills or an outstanding car loan.

Which of these is not a reason for a business to buy key person life insurance?

Which of these is NOT a reason for a business to buy key person life insurance? The correct answer is "A pension deficiency if the key employee dies".

Which of these circumstances is a business Disability Buy sell policy?

Which of these circumstances is a Business Disability Buy-Sell policy designed to help in the sale of a business? A Business Disability Buy-Sell policy is designed to assist in the sale of a business when one of the owners becomes disabled. ... A short term medical policy is best described as interim coverage.

Which of the following is not a required provision in group life policies?

Which provision is NOT a requirement in a group life policy? An AD&D provision is not required in a group life policy. The correct answer is "the entire cost of the plan is paid for by the employer". When an employer provides noncontributory group term life insurance, the employer pays the entire cost of the plan.

Which of the following is a valid reason for an enrollee to be Cancelled by a health maintenance?

An enrollee of a Health Maintenance Organization (HMO) may be cancelled or nonrenewed for which of the following reasons? Failure to pay for coverage. An enrollee of a Health Maintenance Organization (HMO) may be cancelled or nonrenewed for failure to pay for coverage.

What purpose does life insurance serve quizlet?

The primary purpose of life insurance is to protect family members of the insured from financial loss in the event of his or her untimely death.

What do u mean by insurance?

Insurance is a contract (policy) in which an insurer indemnifies another against losses from specific contingencies or perils. 1. There are many types of insurance policies. Life, health, homeowners, and auto are the most common forms of insurance.

Can I buy insurance just for my child?

Q: Can you get child-only coverage through the federal or state insurance marketplaces? A: Yes, you can. As a bonus, those sites will tell you if you qualify for CHIP or Medicaid coverage when you fill out an application.

How much life insurance do you need for a child?

This will give you about $10,000 to $15,000 worth of coverage should one of your children pass. This amount should be enough to cover most or all of the funeral costs. However, after the loss of a child, you are likely to need time off work.

What are the 4 types of annuities?

There are four basic types of annuities to meet your needs: immediate fixed, immediate variable, deferred fixed, and deferred variable annuities. These four types are based on two primary factors: when you want to start receiving payments and how you would like your annuity to grow.

What is an insurance proposal?

A proposal form is the form completed by the policyholder when applying for insurance. You will need to fill in information about the risk you are insuring e.g. the rebuild cost of your house or type of car you own. We will also require information about you such as your claims history and driving experience.

Which is an example of annuities?

An annuity is a series of payments made at equal intervals. Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments.

Is a loan an annuity?

Annuities are basically loans that are paid back over a set period of time at a set interest rate with consistent payments each period. A mortgage or car loan are simple examples of an annuity.

What is annuity purchase in NPS?

An annuity in NPS is a type of investment that offers regular dividend payments for a stipulated time or life. ... From the 100 per cent corpus of NPS, 60 per cent can be withdrawn as a lump sum after retirement. And, the rest 40 per cent, is paid as regular income after retirement to the subscriber and then to the spouse.