LOMA 281 Module 2 Practice Questions and Answers | 100% Pass
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Course
LOMA 281
Institution
LOMA 281
LOMA 281 Module 2 Practice Questions
and Answers | 100% Pass
Which type of whole life insurance policy will best be able to give Arabella lifetime
protection without straining her retirement income?
Single-premium whole life policy
Limited-payment whole life policy
Continuous-premium whole li...
Family Income Coverage - Answer✔️✔️-A plan of decreasing term life insurance that
provides a stated monthly income benefit amount if the insured dies during the term of
coverage.
Increasing Term Life Insurance - Answer✔️✔️-Term life insurance that provides a death
benefit that starts at one amount and increases by some specified amount or
percentage at stated intervals over the policy term.
Decide whether the statements below describe increasing term insurance, level term
insurance, or decreasing term insurance.
A 5-year term life insurance policy that offers a death benefit of $50,000 for the first year
of the policy term, $40,000 for the second year, and so on. The benefit for the fifth year
is $10,000.
a. Increasing Term Insurance
b. Level Term Insurance
c. Decreasing Term Insurance - Answer✔️✔️-C.
A 5-year term life insurance policy that provides a $100,000 death benefit if the insured
dies at any time during the 5-year policy term.
a. increasing term insurance
b. level term insurance
c. decreasing term insurance - Answer✔️✔️-B.
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