Steiner is a private college. What. $50,000 C. $80,000 D. $100,000 E. $180,000 B. The cash value of the policy is expected to be Annuities are often purchased for A. What happens if you dont get life insurance? You own a home with a mortgage of $110,000, and Using the nonworking spouse method, what should be the life $196,000 C. $280,000 D. $400,000 E. $430,000, 83. With an available asset of $500,000 in savings, your life insurance requirement is $1,355,000 - $500,000 = $855,000. A. B. A. B. What method would probably be the best. B. If you are new to Smallwood Wealth schedule a Wealth Curve Conversation here. He forgot to tell them that he had a heart condition, and, as a result of that condition, he recently died. E. Proceeds left with the company. Whether you're married, domestic partners or simply sharing a life with someone you love, taking out a pair of affordable term life insurance policies can provide both financial security and peace of mind. [Content_Types].xml ( Y0}GM Both you and the spouse are covered throughout the policy term for your respective separate sums assured. If we really see it through the lens, probably the Non-working Spouse, as the life insurance industry calls it, has more of the work to do without getting paid as much as its office-going counterpart. 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The maturity benefit is calculated for a 25 years old healthy male life who has opted for Canara HSBC Life Insurance iSelect Guaranteed Future with iAchieve plan option, monthly premium Rs.10,000 (excluding taxes), premium payment term 10 years and policy term 20 years through online sales channel. The spouse who has to stay at home, looking after the children, cooking, and supporting the family often has a more tiresome job to do, than the working spouse. D. A benefit during the period it covers, such as 1, 5, 10, or 20 years. \textbf{(amounts in thousands)}\\ You have to drive them to their after-school activities, preparing meals, keeping the household in order, etc. insurance needs for a family whose youngest child is 5 years Judy and James have a 4-year-old child. Group life C. Limited life D. Universal life E. Variable life, 49. At minimal, you want a policy to provide at least 5 years worth of income replacement, until you can balance out things. In this case, 18 years. It is important to replace all of the income lost when an employed family member dies when using the human-life approach. What is the amount of life insurance they should carry using the "nonworking" spouse method? \quad\text{Unearned revenue}&&\text{900}\\ When calculating an amount, ask yourself what it will cost to hire someone to replace your spouse and perform all the tasks your non-working spouse does throughout the day. B. Or, you can call us at (800) 797-1000. . Beneficiary. C. Identified annuities to be the same as certificates of deposit. C. You can convert your term policy to a permanent policy. Estimate your total Straight life C. Ordinary life D. Term life E. Cash value life. D. Term life insurance plans. Using the sample chart that follows, find the column showing the age of the nonworking spouse 2. $140,000 B. Limited installment payment. Mortgage = $190,000; Auto loan = $10,000; Credit card balance = $2,000; and other debts = This next method is for those with just one wage earner in the family. C. Tell you why her product is better than the competitors. Your spouse expects to continue to work after your death. Allowed whole life insurance policies to be sold. \text{Liabilities:}\\ Dividend policy B. Nonparticipating policy C. Mutual policy D. Participating policy E. Stock policy, 33. Marianne and Roger are in good health and have reasonably secure careers. About ___ of the U.S. life insurance companies are stock companies. Tim and Tammy are updating their financial plan and are concerned that they might not have enough life insurance coverage for their family, which includes two children, ages 4 and 10. True. Limited installment payment. Experts are tested by Chegg as specialists in their subject area. For example, say. Bill is worried about being able to pay his premium if he is totally and permanently disabled before age 60. \quad\qquad\text{Total liabilities and net assets}&&\underline{\underline{\text{\$\hspace{1pt}455,670}}}\\ If you mean you want to add life insurance coverage for your new spouse on your life insurance policy, you can contact your life insurance agent or carrier and request what it would cost to add a spouse rider for life insurance coverage to your existing policy. A. C. Final life payment. Accidental death benefit C. Guaranteed insurability option D. Cost-of-living protection E. Accelerated benefits, 61. 27. Also, if you try to make up some of that yourself, you lose income and income potential. This term life policy will guarantee that you will pay the same premium for the duration of your policy. C. 10 days. e. a place in which to keep products until they are needed If you want to purchase term insurance, you will receive all of the following except A. D. Life income option. Allison is a "nonworking" spouse who devotes all of her time to household activities. Your needs will also change over time, so your life insurance needs may also change over time. A. Adjustable life B. T&C Apply. the near future. The following transaction information (amounts in thousands) pertains to the year ended June 30, 2020. Net deposits returned to students totaled $10. D. Your policy will have the same premium as other term policies. D. You must pay interest on any outstanding policy loans. method, what should be your need for life insurance? C. The policy will return all premiums if you survive to the end of the policy. Further, you estimate that your funeral will cost $6,000. C. Final life payment. If you are new to Smallwood Wealth schedule a Wealth Curve Conversation. You may not purchase insurance once your term ends. Use Exhibit 1-B. 25% C. 50% D. 75% E. 95%, 32. A. 70. Jumping the Wealth Curve with Edward E. Bao Jr. B. 46. The investment risk in investment portfolio is borne by the policyholder. Tim and Allison are married and have two children, ages 3 and 6. lessons in math, English, science, history, and more. A. Waiver of premium disability benefit B. E. Independently wealthy adult. Plus, get practice tests, quizzes, and personalized coaching to help you 41. C. Administrative fee. She, wants to determine her insurance needs. They plan to purchase life insurance using this formula: Current income 7 70%. A. Incontestability clause B. Misstatement of age provision C. Naming a beneficiary D. Policy reinstatement E. The grace period, 57. Quickly and professionally. Contract. A. Incontestability clause B. Misstatement of age provision C. Naming a beneficiary D. Policy reinstatement E. The grace period, 56. \text{Cash and cash equivalents}&&\text{\$\hspace{18pt}734}\\ Try refreshing the page, or contact customer support. Which of the following is NOT a type of permanent insurance? Securities offered through Purshe Kaplan Sterling Investments, MemberFINRA/SIPCHeadquartered at 80 State Street, Albany, NY 12207. $30,000 B. 72. A. Your annual premium is $1,000. Best Investment Options in India
Ag;sE2/yNNF;eF]!hiV^r^l PK ! Whole life B. Renewable term C. Convertible term D. Decreasing term E. Multiyear level. AssetsCashandcashequivalentsShort-terminvestmentsTuitionandfeesreceivable(netofdoubtfulaccountsof$12)Pledgesreceivable(netofdoubtfulaccountsof$280)PrepaidassetsProperty,plan,andequipment(netofaccumulateddepreciationof$104,240)Investments(atfairvalue,costof$162,000)TotalassetsLiabilitiesandNetAssetsLiabilities:AccountspayableandaccruedliabilitiesDepositsheldincustodyforothersUnearnedrevenueBondspayableTotalliabilitiesNetassets:WithoutdonorrestrictionsWithdonorrestrictionsTotalnetassetsTotalliabilitiesandnetassets$104,000229,940$7347,6662305,8721,364281,404158,400$455,670$21,13070090099,000127,730333,940$455,670. Which of the following riders should he consider? Another name for permanent life insurance is A. Nonworking spouse method is a type of insurance policy where without working you can support your children until they turn 18 years old. 2. Use the multiple of income method to The first method is called the easy method. A. Single adult living alone. Polly wants the opportunity to change the amount she pays for her annual premium through the life of her insurance policy without changing her coverage. This is a method that has you multiplying the number of years it takes the youngest child to reach 18 by $10,000. The Policy will terminate after payment of this benefit. A. Which of the following is the process of getting oxygen from the environment to the tissues of the body? Canara HSBC Life Insurance Company Limited is only the name of the insurance company and Canara HSBC Life Insurance Invest 4G is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Sum Assured fixed at Rs. 66. \text{Prepaid assets}&&\text{1,364}\\ Unit linked Insurance products are different from the traditional insurance products and are subject to the risk factors. What is the cost of living in California? B. Multiyear level term. She does not want to take a medical exam to get coverage because she has some underlying health conditions and is concerned that she might not qualify for a policy. You can convert your policy from permanent to term at any time. 81. The settlement option that pays the life insurance proceeds in equal periodic payments for a specified number of years after your death is called A. Lump-sum payment. You are a dual-income, no-kids family. Steiner Colleges statement of financial position for the year ended June 30, 2019, is presented here. Which of the following is a poor choice for the amount of protection offered for an individual? Accidental death benefit C. Guaranteed insurability option D. Cost-of-living protection E. Accelerated benefits, 62. Investment earnings received for the period were $3,960, of which$2,070 was donor restricted for scholarships.