Chapter 8 - Chapter 8 Review Questions True/False 1. 2. 3....

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Chapter 8 Review Questions True/False 1. Spreading risk among a large number of people is a major principle of insurance. 2. Insurance company underwriting determines whom it can insure and what premiums to charge. 3. The primary purpose of life insurance is to protect family members financially after one’s death. 4. Social security benefits would be an example of available resources for a family. 5. The right of the policyholder to the cash value of a whole life policy is a nonforfeiture right. 6. Variable life insurance would be the best plan for your primary insurance needs. 7. Like universal life insurance, variable life insurance provides a minimum guaranteed return. 8. Group life insurance is usually term life insurance. 9. Tammy Johnson wants to name her husband, Jake Johnson, as the primary beneficiary on her life insurance policy. Therefore, she should designate “my husband” as the primary beneficiary. 10. You may reinstate your lapsed life insurance policy without a physical examination. Multiple Choice 1. Insurance is a tool that can lessen risk. a.
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This note was uploaded on 08/28/2009 for the course BUS ACG2021 taught by Professor Yost during the Spring '08 term at W. Florida.

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Chapter 8 - Chapter 8 Review Questions True/False 1. 2. 3....

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