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Life Insurance Flashcards | StudBud
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Life Insurance
What are the categories of life insurance?
What are death benefits?
Life Insurance
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Introduction to #Life Insurance
Flashcards
8 cards
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Answers
1
What are death benefits?
Money from the government decided by insured
Specific items that the insured left behind
Money that dependents receive after death of insured
A fully-paid funeral
2
What are the categories of life insurance?
Money and Investment Policies
Protection or Insurance Policies
Protection and Investment Policies
Life and Death Policies
3
When is the best age to buy life insurance?
30
50
40
20
4
How much is life insurance?
$10 per month
$100 per month
$50 per month
Depends on multiple factors
5
What does life insurance cover?
Debts
Cars if the insured was in a car accident
Any lives affected
Funeral expenses
6
What are life insurance riders?
Different categories of the life insurance policy
Modifications on life insurance plans
The money given to the beneficiaries
The people who help you plan your life insurance policy
7
What is universal life insurance?
A savings account from excess premiums
The idea that everyone gets life insurance
The life insurance that only certain people pay
The idea that everyone's life insurance is paid for
8
How are life insurance premiums determined?
Using probability
You pay however much you want
Using statistics and other factors
Everyone pays the same amount
