Section 8 quiz questions
Miguel has a consumer-directed health plan (CDHP) with a $2,000 deductible and currently has $1,500 in a health reimbursement arrangement (HRA). If Miguel incurs a $10,000 medical expense, how much of the loss will be covered by the major medical coverage? Select one: A. $1,500 B. $2,000 C. $8,000 D. $10,000
C. $8,000
Regarding group life insurance, instead of receiving individual policies, insured members receive Select one: A. No confirmation of coverage. B. A copy of the Declarations page. C. A certificate of insurance. D. A copy of the master policy.
C. A certificate of insurance.
Which one of the following statements about insurance for loss exposures related to poor health is true? Select one: A. Disability income insurance generally covers medical bills of disabled persons. B. Health insurance premiums are generally the same regardless of the age and health of an individual. C. Health insurance allows an insured to select various levels of coverage and benefits. D. Long-term care insurance pays benefits only for conditions requiring nursing home care.
C. Health insurance allows an insured to select various levels of coverage and benefits.
A sandwiched family usually needs life insurance because the premature death of an income earner in a sandwiched family can cause Select one: A. Financial hardship for surviving children and surviving parents. B. Financial hardship for extended relatives who must assume responsibility for their grandparents. C. Emotional and financial hardship for surviving children who might witness grandparents dependent on Medicare. D. Loss of an estate to surviving children when grandparents must "spend down" assets to become eligible for Medicaid.
A. Financial hardship for surviving children and surviving parents.
A general type of annuity is a combination plan. Combination plans combine features of Select one: A. Fixed-dollar and variable annuities. B. Life insurance and equity indexed annuities. C. Flexible-premium and single-premium annuities. D. Deferred and immediate annuities.
A. Fixed-dollar and variable annuities.
The purpose of the guaranteed insurability rider for a life insurance policy is to Select one: A. Guarantee the insured's future insurability even though he or she might develop poor health. B. Allow the insurer the option of nonrenewing the policy if the insured misrepresents his or her insurability on the application. C. Guarantee the insured's future insurability even though he or she might allow the policy to lapse due to nonpayment of the premium. D. Allow the insurer the option of canceling the policy if the insured misrepresents his or her insurability on the application.
A. Guarantee the insured's future insurability even though he or she might develop poor health.
Kevin recently purchased a long-term disability income policy. The policy states that he can renew the coverage until age 65 as long as he is gainfully employed. However, the insurer reserves the right to raise the premium at renewal. This policy is considered Select one: A. Guaranteed renewable. B. Conditionally renewable. C. Optionally renewable. D. Noncancelable.
A. Guaranteed renewable.
Disability benefits that are paid from an individual policy are Select one: A. Not taxable to the insured. B. Typically 40% of original wages. C. Considerably inadequate on their own. D. Taxable to the insured.
A. Not taxable to the insured.
Consumers of individual life insurance bear its entire cost unlike some other sources of life insurance. Which one of the following is a reason for increased costs associated with individual life insurance? Select one: A. The costs are typically subsidized by their employers. B. Coverage is subject to many changes. C. Each application must be evaluated by the insurer. D. Coverage options are broader.
C. Each application must be evaluated by the insurer.
Which one of the following types of annuities is considered a more conservative investment and has a lower rate of return? Select one: A. Combination plan B. Equity indexed annuity (EIAs) C. Fixed-dollar annuity D. Variable annuity (VA)
C. Fixed-dollar annuity
Which one of the following common individual disability income policy riders guarantees the insured's insurability for a specific period, allowing the option to increase the monthly benefit as the insured's income increases, based on documented income increases? Select one: A. Cost of living adjustment (COLA) B. Residual (partial) disability C. Future increase option (FIO) D. Automatic Increase Rider (AIR)
C. Future increase option (FIO)
The waiver of premium rider that can be added to a life insurance policy Select one: A. Eliminates premium payments during a period of unemployment if the duration of the unemployment is one year or more. B. Reduces or waives premium payments for a whole life policy when the insured reaches a maximum age threshold. C. Waives premium payments during a period of disability as defined in the policy if the disability occurs before a stipulated age. D. Reduces or waives premium payments for a whole life policy if interest rates exceed an established percentage.
C. Waives premium payments during a period of disability as defined in the policy if the disability occurs before a stipulated age.
A disability income policy has a rider that increases the monthly benefit amount by 4 percent for each of the first five years the policy is in force, if benefits have not yet begun. This is an example of which one of the following types of riders? Select one: A. Future increase option B. Guaranteed insurability C. Cost of living adjustment D. Automatic increase
D. Automatic increase
Government provided (federal) life insurance is included in the government-based program of Select one: A. Temporary disability insurance. B. Social Security. C. Unemployment insurance. D. Workers compensation.
B. Social Security.
Martin, who has multiple sclerosis, is concerned about needing assistance with activities of daily living if his health deteriorates. Which type of insurance best provides benefits for this exposure? Select one: A. Life B. Disability income C. Medical expense c
Martin, who has multiple sclerosis, is concerned about needing assistance with activities of daily living if his health deteriorates. Which type of insurance best provides benefits for this exposure? Select one: A. Life B. Disability income C. Medical expense D. Long-term care
Managed-care plans differ from traditional health insurance plans by Select one: A. Offering more flexibility and more physicians and surgeons available to their members. B. Providing negotiated benefits and fees with a network of healthcare providers. C. Increasing healthcare premiums, but reducing overall out-of-pocket costs. D. Offering more types of services and broader coverage.
B. Providing negotiated benefits and fees with a network of healthcare providers.
According to the National Safety Council, what percentage of disabling accidents and illnesses are work-related? Select one: A. 10 percent B. 50 percent C. 30 percent D. 70 percent
A. 10 percent
Which one of the following statements about most group long-term disability income insurance plans is true? Select one: A. They have a coordination-of-benefits provision that defines how disability income benefits from programs such as Social Security will affect benefits under the group plan. B. They use an "any occupation" definition of disability for an initial period, and then change to an "own occupation" definition of disability. C. They replace 100 percent of lost income. D. They have a waiting period of at least two years.
A. They have a coordination-of-benefits provision that defines how disability income benefits from programs such as Social Security will affect benefits under the group plan.
Which one of the following statements about health-related loss exposures is true? Select one: A. Young, healthy individuals often do not recognize the financial benefits that health insurance can provide. B. Individuals who have health insurance tend to have shorter life expectancies because they are unhealthy. C. The lack of availability is the only major reason why many lower-income persons fail to have health insurance. D. Under private health insurance, people generally select more benefits or lower copayments than under group insurance plans of large employers.
A. Young, healthy individuals often do not recognize the financial benefits that health insurance can provide.
A point-of-service (POS) plan is a hybrid healthcare plan that has characteristic of which two other types of healthcare plans? Select one: A. A health maintenance organization (HMO) and a preferred provider organization (PPO) B. A major medical plan and Medicare C. A preferred provider organization (PPO) and an exclusive provider organization (EPO) D. An indemnity plan and a health maintenance organization (HMO)
A. A health maintenance organization (HMO) and a preferred provider organization (PPO)
Universal life insurance is Select one: A. A life insurance policy that separately states the protection, savings, and expense components. B. A savings account that provides for life insurance payments from the interest on the savings. C. A type of term life insurance without cash values. D. An insurance and savings account that requires disciplined adherence to monthly payments.
A. A life insurance policy that separately states the protection, savings, and expense components.
Which one of the following is typically a party to a group life insurance contract? Select one: A. Employee B. Employer C. Beneficiary D. Broker
B. Employer
Which one of the following types of life insurance is useful to someone whose current need for life insurance will diminish after a number of years? Select one: A. Variable life B. Whole life C. Term life D. Universal life
C. Term life
Most term life insurance policies Select one: A. Are not convertible. B. Are available to meet financial obligations that continue for a lifetime. C. Are hybrid combinations of life insurance and investment vehicles. D. Carry some guarantee of renewability.
D. Carry some guarantee of renewability.
Term life insurance provides Select one: A. Lifetime protection that builds cash value. B. Lifetime protection that builds cash value and is usually renewable and convertible. C. Temporary protection with cash value. D. Temporary protection with no cash value and is usually renewable and convertible.
D. Temporary protection with no cash value and is usually renewable and convertible.
Which one of the following best describes "double indemnity" regarding a life insurance policy? Select one: A. If two policies are issued on the same life, only one policy must pay in the event of death. B. Death as the result of suicide will pay no more than half the face value. C. The death benefit is doubled if death occurs in the first two years. D. The death benefit doubles if death is the result of an accident.
D. The death benefit doubles if death is the result of an accident.
Ed purchased an individual disability income policy several years ago and continued to pay the annual premium with after-tax dollars. He recently was severely disabled and is not expected to ever return to work. His monthly benefit is $4,000, which represents 60 percent of his predisability earnings. The present value of his expected benefits is $240,000, and the aggregate premiums he has paid for the policy are $60,000. How much of each monthly benefit is subject to income taxation? Select one: A. Nothing B. $2,000 C. $2,400 D. $4,000
A. Nothing
Which one of the following is a major characteristic of a consumer-directed health plan? Select one: A. The use of a health savings account (HSA) or a health reimbursement arrangement (HRA) B. Little or no access to tools for making healthcare decisions C. Low premiums because of lower-quality care than under other types of healthcare plans D. Deductibles for preventive care
A. The use of a health savings account (HSA) or a health reimbursement arrangement (HRA)
Which one of the following statements about Blue Cross and Blue Shield plans is true? Select one: A. They are often administered by for-profit organizations. B. Their biggest limitation is that they offer only basic medical expense coverage. C. They are usually considered commercial insurers and regulated by the same laws. D. They typically reimburse insureds for medical expenses incurred, and then the insureds pay providers.
A. They are often administered by for-profit organizations.
Grant and Gretchen and their family are insured under a healthcare plan that allows them to see any physician, but they have higher copayments if they visit one who is not a member of the plan's network. They are also not required to select a primary care physician. This type of plan is Select one: A. A health maintenance organization. B. A preferred provider organization. C. A point-of service plan. D. An exclusive provider organization.
B. A preferred provider organization.
Group life insurance provides coverage to a number of individuals under one master contract issued to a sponsoring organization. The largest category of group life consumers is Select one: A. Student groups. B. Employer groups. C. Church groups. D. Foundation groups.
B. Employer groups.
Which one of the following statements about disability loss exposures is true? Select one: A. Most disabling accidents and illnesses are work-related. B. Few families have the savings to sustain them for disabilities lasting six months or a year. C. Fewer than 5% of persons entering the work force will ever become disabled. D. Only about 40% of Americans in the U.S. are covered by the Social Security disability program.
B. Few families have the savings to sustain them for disabilities lasting six months or a year.
All of the following are costs associated with premature death, EXCEPT: Select one: A. Loss of deceased's income B. Financial assets of the deceased C. Additional costs for child-care expenses D. Uninsured medical bills of the deceased
B. Financial assets of the deceased
Payment of benefits under the Social Security disability income program requires a waiting period of what length? Select one: A. Two months B. Five months C. Nine months D. Twelve months
B. Five months
Which one of the following types of annuities is considered a more conservative investment than other types of annuities? Select one: A. Variable B. Fixed-dollar C. Equity indexed D. Combination
B. Fixed-dollar
Most insurers limit the amount of disability income available on individual disability income insurance to Select one: A. No more than 40 to 50% of the worker's earnings. B. No more than 60 to 80% of the worker's earnings. C. A maximum of 75% of the worker's earnings. D. A maximum of 90% of the worker's earnings.
B. No more than 60 to 80% of the worker's earnings.
Which type of renewal provision in a disability income policy is most attractive to insureds? Select one: A. Conditionally renewable B. Noncancelable C. Optionally renewable D. Guaranteed renewable
B. Noncancelable
The purpose of the suicide clause in a life insurance policy is to Select one: A. Provide payment of death proceeds anytime during the policy period as a public service to the family members. B. Provide the insurer with some protection against an insured who purchases a life insurance policy with the intention of committing suicide. C. Enable the insurer to retain paid premiums if an insured commits suicide and the insurer denies the claim. D. Exclude all death benefits that result from suicide to discourage policyholders who might contemplate ending their lives.
B. Provide the insurer with some protection against an insured who purchases a life insurance policy with the intention of committing suicide.
Which one of the following is a characteristic of universal life insurance? Select one: A. The cash value of the policy will always keep the coverage in force. B. The cash value is guaranteed to earn at least a minimum interest rate. C. If the policyholder becomes unemployed, premiums will be waived. D. Policyholders are locked in to regular premium payment.
B. The cash value is guaranteed to earn at least a minimum interest rate.
A cash value life insurance policy may allow a loan to be taken against the policy cash value. What happens if the insured dies before repaying the loan? Select one: A. The obligation is forgiven. B. The death benefit amount is reduced by the outstanding loan amount. C. No insurance payment is made. D. Repayment becomes an obligation of the insured's estate.
B. The death benefit amount is reduced by the outstanding loan amount.
Malvern Life provides ordinary life insurance at the following premiums: Age Premium 25 $10 per $1,000 of insurance 26 $11 per $1,000 of insurance Lee purchases $110,000 of insurance for $1,100 per year, stating her age as 25 rather than her correct age of 26. How much will Malvern Life pay if Lee dies? Select one: A. $0 B. $89,000 C. $100,000 D. $110,000
C. $100,000 ($1,100÷ $11 = 100; 100 X $1,000 of coverage, or $100,000).
Members of which one of the following managed-care plans may choose any provider, but specified providers offer decreased medical service costs and lower deductibles? Select one: A. A health maintenance organization (HMO) B. A point-of-service (POS) plan C. A preferred provider organization (PPO) D. An exclusive provider organization (EPO)
C. A preferred provider organization (PPO)
Some long-term disability plans use a split definition of disability, which Select one: A. After a specified time period, limits monthly benefits. B. Adds an elimination period. C. After a specified time period, adopts a less liberal definition of disability. D. Provides supplemental benefits under certain circumstances.
C. After a specified time period, adopts a less liberal definition of disability.
Chris and Bill have their family insured under a plan that allows them to select their own healthcare provider without any restrictions. The plan then reimburses them for a percentage of their medical expenses after the satisfaction of a deductible. This is an example of Select one: A. A preferred provider organization plan. B. A point-of service plan. C. An indemnity plan. D. A health maintenance organization plan.
C. An indemnity plan.
Qualification for Social Security disability income benefits requires objective medical evidence that a worker's impairment meet which one of the following requirements with respect to duration? Select one: A. Be expected to eventually result in death B. Be expected to last at least 24 consecutive months C. Be expected to last at least 12 consecutive months or to result in death D. Be expected to last until the earlier of death or the worker's eligibility for Social Security retirement benefits
C. Be expected to last at least 12 consecutive months or to result in death
In which one of the following family structures is the risk of incurring child-care costs over a prolonged period a unique consideration in establishing life insurance needs? Select one: A. Sandwiched family B. Traditional family C. Blended family D. Single-parent family
C. Blended family
Which one of the following describes a characteristic of health maintenance organizations (HMOs)? Select one: A. Most healthcare services must be obtained outside of the network. B. Limited healthcare services are provided to members for a discounted fee. C. Comprehensive healthcare services are provided to members for a fixed prepaid fee. D. Members are reimbursed for services provided by any licensed healthcare provider.
C. Comprehensive healthcare services are provided to members for a fixed prepaid fee.
Marilyn's employer provides her with health insurance coverage that has a high deductible and the availability of a health savings account to which she can make contributions to pay medical expenses that are not reimbursed by her insurance. This is an example of a Select one: A. Health maintenance organization. B. Preferred provider organization. C. Consumer-directed health plan. D. Point-of-service plan.
C. Consumer-directed health plan.
John used an inheritance to purchase an annuity at age 50 to provide him a fixed-annual income after he reaches age 65. This is an example of a(n) Select one: A. Flexible-premium annuity. B. Equity indexed annuity. C. Deferred annuity. D. Variable annuity.
C. Deferred annuity.
Which one of the following statements about disability is true according to the Social Security Administration? Select one: A. Only about five percent of Americans entering the work force today will become disabled before they retire. B. About 4 percent of Americans are disabled. C. Fewer than one-half of Social Security Disability Insurance claims are approved. D. The average benefit paid by Social Security Disability Insurance is almost $3,000 per month.
C. Fewer than one-half of Social Security Disability Insurance claims are approved.
A reinstatement clause in a life insurance policy Select one: A. Continues a life insurance policy in force for 30 days after the premium due date, allowing the policyowner the opportunity to pay the overdue premium to reinstate the policy. B. Continues a life insurance policy in force for 60 days after the premium due date, allowing the beneficiaries the opportunity to pay the overdue premium to reinstate the policy. C. Gives the policyowner the right to reinstate a life insurance policy that has lapsed for nonpayment of premium. D. Gives the insurer the option, but not the obligation, to reinstate policies for lapsed policyholders who wish to reactivate coverage.
C. Gives the policyowner the right to reinstate a life insurance policy that has lapsed for nonpayment of premium.
The majority of individuals and families in the United States obtain their medical expense insurance through Select one: A. Individual medical expense coverages. B. Personal retention. C. Group health insurance plans. D. Government insurance.
C. Group health insurance plans.
A point-of-service (POS) plan is a managed care plan that combines the characteristics of a(n) Select one: A. HMO and an EPO. B. PPO and an EPO. C. HMO and a PPO. D. EPO and Medicare.
C. HMO and a PPO.
An insured with an accelerated death benefits rider attached to his life insurance policy has the right to receive some or all of the available life insurance proceeds before death occurs if Select one: A. He or she becomes unemployed for a period that exceeds one year. B. He or she becomes seriously injured as a result of an accident. C. He or she contracts a catastrophic or terminal illness. D. He or she becomes totally disabled before a certain age.
C. He or she contracts a catastrophic or terminal illness.
Which one of the following statements about insurance treatment of health-related, disability, and long-term care loss exposures is true? Select one: A. Multiple forms of disability income insurance are never an appropriate purchase. B. Long-term care insurance allows an insured little or no choice among benefit options. C. High costs associated with medical care, disability, and long-term care can force some individuals and families into bankruptcy. D. Health insurance premiums are the same regardless of an insured's age.
C. High costs associated with medical care, disability, and long-term care can force some individuals and families into bankruptcy.
Tom has been injured and will be unable to perform any substantial gainful work for years. He is considering applying for Social Security disability income benefits. Which one of the following is true regarding Social Security disability income benefits? Select one: A. If he qualifies, Tom must satisfy a 24-month waiting period before benefits commence. B. If he qualifies, Tom will be paid a lump sum cash benefit based on the extent and expected duration of the disability. C. If he qualifies, auxiliary benefits may also be paid for eligible dependents. D. If he qualifies, Tom will be paid a monthly cash benefit for a maximum of 36 months.
C. If he qualifies, auxiliary benefits may also be paid for eligible dependents.
Regarding insuring the premature death loss exposure, which one of the following statements is true? Select one: A. In two-income families without children, life insurance is generally not needed. B. In single-parent families, the need for life insurance is not great since there is no surviving spouse. C. In a traditional family structure, the need for life insurance on the spouse that stays at home can be as important as the need for life insurance on the spouse in the labor force. D. In two-income families with children, life insurance is generally needed only on the spouse with the higher income.
C. In a traditional family structure, the need for life insurance on the spouse that stays at home can be as important as the need for life insurance on the spouse in the labor force.
Which one of the following statements about disability loss exposures is true? Select one: A. The chance of being disabled is significantly lower than the chance of early death. B. Most families have the resources to sustain themselves through relatively long periods of disability. C. In addition to lost income, disability often results in medical expenses that must be paid. D. Because of Social Security disability income benefits, there is little need for personal disability income insurance.
C. In addition to lost income, disability often results in medical expenses that must be paid.
Which one of the following statements about whole life insurance is true? Select one: A. It provides protection for a fixed period of time. B. It has an annual premium that is usually less than the premium for a comparable amount of term insurance. C. It develops a cash value that, with some limitations, is available to the insured during the life of the policy. D. It is a form of term insurance that is convertible to universal life insurance.
C. It develops a cash value that, with some limitations, is available to the insured during the life of the policy.
Why can disability be even more of a financial strain on a family than early death of a wage earner? Select one: A. Other family members can become depressed, limiting their earning potential. B. Wage replacement benefits are much less than survivor benefits. C. Most families do not have savings that would sustain them for lengthy time periods. D. Disability happens so rarely that it often is overlooked.
C. Most families do not have savings that would sustain them for lengthy time periods.
The assignment clause of a life insurance policy provides which one of the following? Select one: A. If the policyowner and the insured are not the same person, policy rights are assigned to the insured. B. Dividends are assigned in accordance with the option selected. C. Ownership rights in the policy can be transferred to another party. D. The order of beneficiaries is assigned by a formula.
C. Ownership rights in the policy can be transferred to another party.
Which one of the following statements about annuities is true? Select one: A. The premium for individual annuity plans is paid with pre-tax dollars. B. The investment income that accumulates under individual annuity plans is taxable in the year it is earned. C. The fundamental purpose of an individual annuity is to provide periodic income for a fixed period or over an individual's lifetime. D. With annuity plans, the purchaser must begin receiving payments one month from the purchase date.
C. The fundamental purpose of an individual annuity is to provide periodic income for a fixed period or over an individual's lifetime.
Which one of the following best explains why an employer group or association receives disability insurance cheaper than individuals? Select one: A. Employers typically have better negotiation skills than individuals. B. Insurers want to make it easier for employers to provide employees with such benefits. C. They create economies of scale through the purchase of many policies. D. Government regulations generally restrict overpricing group coverage.
C. They create economies of scale through the purchase of many policies.
To be considered "disabled" under Social Security, a worker must Select one: A. Have a physical condition that has lasted for a minimum of two years. B. Be blind, mentally and physically disabled and unable to find gainful employment. C. Have a mental condition that has lasted for a minimum of two years. D. Be unable to engage in any substantial gainful activity because of a medically determinable physical or mental impairment as defined in the Social Security law.
D. Be unable to engage in any substantial gainful activity because of a medically determinable physical or mental impairment as defined in the Social Security law.
Which one of the following describes the historical role of Blue Cross and Blue Shield plans? Select one: A. The Blues pay cash benefits directly to the insured rather than to the medical care provider. B. Blue Cross and Blue Shield plans are means for individual employers to self-insure for their employees' medical needs. C. The Blues operate as for-profit medical insurance providers that are offshoots of their property-casualty insurance lines. D. Blue Cross plans cover hospital expenses and Blue Shield plans cover physician expenses.
D. Blue Cross plans cover hospital expenses and Blue Shield plans cover physician expenses.
As opposed to other sources of life insurance, the cost of individual life insurance Select one: A. Does not vary based on health and habits. B. Is tethered to the insured's employment status. C. Does not vary based on age or gender. D. Does not include a group or volume discount.
D. Does not include a group or volume discount.
Although the basis for the amount of insurance can differ, most group term life insurance plans provide an amount of insurance Select one: A. Based on the employee's position. B. Based on the employee's length of service. C. Equal to a flat amount for all employees. D. Equal to some multiple of the employee's annual salary.
D. Equal to some multiple of the employee's annual salary.
Which one of the following types of annuities features interest rates that fluctuate based on the stock market's performance but guarantee annuitants payment of a minimum principal amount and interest rate? Select one: A. Fixed-dollar annuity B. Variable annuity (VAs) C. Combination plan D. Equity indexed annuity (EIA)
D. Equity indexed annuity (EIA)
Which one of the following is true regarding health-related loss exposures? Select one: A. The cost of group health insurance is greater than the cost of private health insurance. B. Uninsured individuals often promptly seek medical treatment. C. Group plans often offer benefits only for lesser-quality medications and older treatment methods. D. Generally, under private insurance and smaller group plans, individuals or associations select fewer benefits or higher copayments to save money on premiums.
D. Generally, under private insurance and smaller group plans, individuals or associations select fewer benefits or higher copayments to save money on premiums.
Which one of the following statements about the basic provisions of the Affordable Health Care Act of 2010 is true? Select one: A. It requires insurers to set lifetime limits on benefits as a way to encourage wiser choices about medical care by consumers. B. It allows adult children to remain on a parent's healthcare plan indefinitely. C. It allows insurers to deny coverage to children with preexisting conditions under certain circumstances. D. It requires insurers to spend set percentages of premiums received on direct medical care or improvements in the quality of care provided.
D. It requires insurers to spend set percentages of premiums received on direct medical care or improvements in the quality of care provided.
For the same benefits provided, why is the cost of private health insurance significantly greater that the cost of group health insurance? Select one: A. Private health insurance is only offered by for-profit organizations. B. Private health insurance is unregulated. C. Private health insurance is more heavily taxed. D. Private health insurance lacks the economies of scale associated with group health insurance.
D. Private health insurance lacks the economies of scale associated with group health insurance.
Why do those covered by a consumer-directed health plan (CDHP) pay lower premiums for their health coverage? Select one: A. The insureds act as a large group that achieves greater bargaining power. B. There is less coverage provided by a CDHP than other types of healthcare plans. C. There is less access to informational tools for making informed healthcare decisions. D. The out-of-pocket fees, particularly the deductibles, are high.
D. The out-of-pocket fees, particularly the deductibles, are high.
The fewest number of people recognize which one of the following personal financial exposures? Select one: A. The need for retirement planning B. The need for life insurance for themselves and their spouses and dependents C. The importance of securing property and liability insurance on their home and auto D. The potential financial devastation they could face if they or their spouse were to became disabled
D. The potential financial devastation they could face if they or their spouse were to became disabled
Current assumption whole life insurance includes features of a Select one: A. Traditional whole life policy and a first-to-die (joint) life policy. B. Variable universal life policy and a term policy. C. Term policy and a traditional whole life policy. D. Traditional whole life policy and a universal life policy.
D. Traditional whole life policy and a universal life policy.
Flexibility is a fundamental characteristic of Select one: A. Term life insurance. B. Group life insurance. C. Whole life insurance. D. Universal life insurance.
D. Universal life insurance.