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RMI 3011 Chapter 11 RMI 3011 Florida State University -Question and answers rated A+ $12.99   Add to cart
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RMI 3011 Chapter 11 RMI 3011 Florida State University -Question and answers rated A+

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RMI 3011 Chapter 11 RMI 3011 Florida State University -Question and answers rated A+ Perils affecting income... - correct answer Premature Death Disability (work-related, non-occupational) Old Age Poor Health Unemployment Premature Death (def.) - correct answer death w/ unfulfilled fina...

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  • November 30, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
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  • rmi 3011 chapter 11
  • rmi 3011 chapter 11 question and answers rated a
  • rmi 3011 chapter 11 rmi 3011 florida state univers

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RMI 3011 Chapter 11 Question and
answers rated A+
Perils affecting income... - correct answer ✔Premature Death
Disability (work-related, non-occupational)
Old Age
Poor Health
Unemployment


Premature Death (def.) - correct answer ✔death w/ unfulfilled financial
obligations


Costs of premature death - correct answer ✔1. Families' portion (share) of
earnings
2. Additional expenses (Ex. nanny, dog walker, maid...)
3. Reduction in standard of living


What is your probability of dying? - correct answer ✔100%


Chance of dying - correct answer ✔economic justification of life insurance


Financial Impact Diff. Families - correct answer ✔Single
Single Parent
DINKS
Married w/ children traditional
Married w/ children two-incomes

, Blended families
Sandwich families


Why might a single person get life insurance? - correct answer ✔Although it
is a lower need, they might buy LI as collateral for starting a business.


What is a sandwich family? - correct answer ✔Old and young, Insured has
grandparent and child in same home.


What does DINK mean? - correct answer ✔Dual Income No Kids, need
relatively lower than single parent


Tradition means? - correct answer ✔Single Income


Married w/ children Two-incomes need is high like? - correct answer ✔Single
Parent


Life Insurance planning (Hint: Pecking order) - correct answer ✔Final
Expenses
Estate Liquidity
Survivor(s) income needs
Mortgage
Education
Legacy Giving


What is estate liquidity? - correct answer ✔probate

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