Module 5 Flashcards
1
Q
What situation would be best suited for a decreasing term insurance policy? (A policy that provides a lower death benefit each passing year)
A
Single homeowner with no dependents.
Likely not need life insurance for anything other than final expenses and paying off the mortgage.
2
Q
Elements considered in process of determining cost of a life insurance premium.
A
Mortality charges, credited interest, expense charges.
3
Q
What is the occurrence of illness and relates primarily to disability insurance?
A
morbidity charges
