Chapter 2
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All of the following are true of key person insurance EXPECT
The plan is funded by permanent insurance only
A producer agent must do all of the following when delivering a new policy to the insured but
disclose commissions earned from the sale of the policy
A key person insurance policy can pay for which of the following?
Costs of training a replacement
Which of the following methods of calculating the amount of life insurance needed takes into account the insureds wages, years until retirement and inflation?
Human life value approach
A producer is helping a married couple determine the financial needs of their children in the event one or both should die prematurely. This is a personal use of life insurance known as
Survivor Protection