Questions from Personal Finance


Q: What is a beneficiary? A contingent beneficiary? Explain why it’s

What is a beneficiary? A contingent beneficiary? Explain why it’s essential to designate a beneficiary for your policy.

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Q: Explain the basic settlement options available for the payment of life insurance

Explain the basic settlement options available for the payment of life insurance proceeds upon a person’s death.

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Q: What do non forfeiture options accomplish? Differentiate between paid-up

What do non forfeiture options accomplish? Differentiate between paid-up insurance and extended term insurance.

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Q: Explain the following clauses often found in life insurance policies:

Explain the following clauses often found in life insurance policies: (a) multiple indemnity clause, (b) disability clause, and (c) suicide clause. Give some examples of common exclusions.

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Q: A year after declaring bankruptcy and moving with her daughter back into

A year after declaring bankruptcy and moving with her daughter back into her parents’ home, June Maffeo is about to get a degree in nursing. As she starts out in a new career, she also wants to begin...

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Q: Describe the key elements of an insurance policy illustration and explain what

Describe the key elements of an insurance policy illustration and explain what a prospective client should focus on in evaluating an illustration.

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Q: Explain the purpose of underwriting. What are some factors that underwriters

Explain the purpose of underwriting. What are some factors that underwriters consider when evaluating a life insurance application?

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Q: Explain the circumstances under which a single college graduate would or would

Explain the circumstances under which a single college graduate would or would not need life insurance. What life-cycle events would change this initial evaluation, and how might they affect the gradu...

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Q: Discuss the two most commonly used ways to determine a person’s life

Discuss the two most commonly used ways to determine a person’s life insurance needs.

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Q: Name and explain the most common financial resources needed after the death

Name and explain the most common financial resources needed after the death of a family breadwinner.

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