Life Insurance Answers

Peter and Marcia, both age 34, can each pay $650 a year each on life insurance for themselves. About how much is the face value of the largest combination of policies they can buy? a. $1,945,000 b. $972,000 c. $789,000 d. $806,000 Please select the best answer from the choices provided

Jade wants to buy a $200,000 term life insurance policy. She is 34 years old. Using the premium table, what is her annual premium for a 10 year policy? a. $1,290 b. $1,202 c. $6,010 d. $820 Please select the best answer from the choices provided

Joshua is 25 years old and has a high risk job making $72,000 a year. The insurance company charges him an extra 20% on top of his premium rate because of his job. If Joshua wants a policy that will replace five years of his salary, what is the annual premium for the cheapest policy? a. $1,107 b. $1,328 c. $5,537 d. $6,644 Please select the best answer from the choices provided

You will pay substantially less for life insurance if which of the following factors is true?a.You are over the age of 60.b.You are in good health. c.You smoke. d.You have many speeding tickets or accidents.