LOMA 281 Module 2 Practice Questions and Answers | 100% Pass
2 views 0 purchase
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.
Page | 3
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 SophiaBennett. 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.
