Life insurance hllqp - Study guides, Class notes & Summaries

3 phrases of Against Permanent Loss of income( Income earner dies) Answer Readjustment period, Dependency Period, Survivor life income needs Capital retention approach Answer Today's value of income needs + cash needs = insurance needs Two common method for calculate life insurance needs Answer Capitalization of income approach(life- value approach) and Capital retention approach Capitalization of income approach(life- value approach) Answer Annual Income / interest rate = life value (...

3 phrases of Against Permanent Loss of income( Income earner dies) - Readjustment period, Dependency Period, Survivor life income needs Capital retention approach - Today's value of income needs + cash needs = insurance needs Two common method for calculate life insurance needs - Capitalization of income approach(lifevalue approach) and Capital retention approach Capitalization of income approach(life- value approach) - Annual Income / interest rate = life value (how much one's earning wo...

The coverage under a group life insurance plan is determined in four different ways based upon an earnings multiple, flat rate, length of service, or some combination thereof. Which method is most common? Answer The most common is the earnings multiple schedule. In this, coverage is equivalent to a multiple of the employee's annual salary. If the overall demographics for a group haves significantly changed, what effect will it likely have on the group premium? Answer The premium will likely ...

Prabdeep is sole sales representative. He has good connections in community that his sister Shatakski does not. Shatakski starts a business with on demand load. If prabdep were to die. Agent reccomends coverage on is brother to cover on demand loan Answer The bank can recall the loan if the feel business may not be successful without prabdeep who is the KEP EMPLOYER Insurance company reviewing for group adjustable whole life policies. Comapring projections made 10 years ago realized actual in...

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