lesson 11 test guide
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
