100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
RMI 3011 chapter 10 RMI 3011 Florida State University -Question and answers rated A+ $12.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Florida State University
  4.  
  5. RMI 3011

Exam (elaborations)

RMI 3011 chapter 10 RMI 3011 Florida State University -Question and answers rated A+
 0 view  0 purchase

RMI 3011 chapter 10 RMI 3011 Florida State University -Question and answers rated A+ life insurance - correct answer coverage on human lives The face amount - correct answer pays a specified amount of money the beneficiary - correct answer to a person or organization the insured - ...

[Show more]

Preview 2 out of 7  pages

Document information

  • November 30, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • rmi 3011 chapter 10
  • rmi 3011 chapter 10 question and answers rated a
  • rmi 3011 chapter 10 rmi 3011 florida state univers

Written for

All documents for this subject (80)

Seller

avatar-seller
Academia199

Reviews received

Content preview

RMI 3011 chapter 10 Question and
answers rated A+
life insurance - correct answer ✔coverage on human lives


The face amount - correct answer ✔pays a specified amount of money


the beneficiary - correct answer ✔to a person or organization


the insured - correct answer ✔a person named on the policy


Executor funds - correct answer ✔burial expenses,estate settlement costs


Income needs of financially-dependent survivors - correct answer ✔Children,
Spouse or partner, other dependents


Business-Related Exposures - correct answer ✔Dependent projects ,
replacement of key employment , ownership


Likelihood of Premature Death - correct answer ✔death prior to retirement
age


Needs of Determining Face Amounts - correct answer ✔Executor Funds,
Income Needs of financially dependent survivors, business related exposures


Human Life Value Approach - correct answer ✔replace income in present
value terms, consider expected salary increases, subtract living expenses and
taxes

, Types of Life Insurance - correct answer ✔term life, whole life, universal life,
other


Term Insurance - correct answer ✔Life insurance coverage for a specified
period of time, less expensive than whole, no savings component


How does term insurance policy work? - correct answer ✔Policy has a set
end date, no coverage after


Duration of Term Coverage - correct answer ✔policies state a specific period


"Renewable Term" - correct answer ✔renewal/extension regardless of heath,
at certain age can no longer renew


Convertible Term - correct answer ✔policy can be converted to whole or
universal


Level Term - correct answer ✔has a constant face amount


Decreasing Term - correct answer ✔has a face amount that decreases over
the time ( works well for paying off a mortgage)


whole life insurance - correct answer ✔provide protection for entire life of the
insured, no end date, savings component, premiums set by the insurer, more
expensive than term insurance


redundant premium - correct answer ✔no use

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Academia199. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

60904 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.49
  • (0)
  Add to cart