ch 12
after you buy new life insurance you have a "free look" period of 50 days
false
cash value policies may make sense for people who intent to keep the policies for only a couple years
false
when you purchase a variable life policy, the insurance company assumes the risk of poor investment performance
false
*most insurance companies can determine how long a particular person will live*
fase
*term insurance, known as temporary insurance, is a basic, "no frills" form of life insurance and is usually the best value for most customers
true
a beneficiary is a person who is designated to receive life insurance proceeds
true
a primary reason for buying an annuity is to give you retirement income for the rest of your life
true
a term insurance policy pays a benefit only if yo die during the period that the policy covers
true
accelerated benefits are life insurance policy proceeds paid to the policyholder who s terminally ill before he or she dies
true
because the premium payment period for a limited payment policy is shorter than that of a whole life policy, the annual premium is higher
true
households with small children have the greatest need for life insurance
true
most people buy life insurance to protect someone wh depends on them from financial losses caused by their death
true
some experts claim that credit life insurance policies are the nation's biggest rip off
true
the premium for a whole life policy remains constant for as long as an insured lives
true
whole life insurance builds up cash value
true
