lesson 11 test guide

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a life insurance policy owned by a third party

is used largely in estate-planning as well as business situations

an architectural firm would stand to lose a lot of money in the event of the death of its project manager. Which type of policy should the firm purchase on its project manager

key person life policy

which of these factors does NOT influence an applicant's need for life insurance

self-maintenance expenses

which type of plan allows an employer to give money to an employee for buying a life insurance policy and also permits the employee to select the beneficiary

split-dollar plan

who benefits when death occurs in a key employee policy

the company

who is the owner of the key life insurance policy

the company

if someone is insured under an insurance policy owned by a third party what are their ownership rights

they don't have any

a life insurance policy owned by a third party is

used largely in estate-planning as well as business situations

which of these is NOT a reason for a business to buy key person life insurance

a pension deficiency if the key employee dies

which of these is NOT considered to be a cost connected with an individual's death

business expenses

in life insurance, the needs approach is used mostly to establish

how much life insurance a client should apply for

in a key employee life insurance policy, the third-party owner cant be

insured


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