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1.
Many life insurance agents specialize in areas of financial planning that are related to life insurance in some way.
True. Some specialize in estate planning, for example. A specialist can be valuable if you have specific needs in a life insurance policy.
2.
Which of the following is a typical guideline for life insurance coverage for your dependents?
5-10 times your yearly salary. This is a general rule; there are exceptions to it, of course.
3.
What do the ratings on a life insurance company ultimately indicate about the company?
Its ability to pay claims. Though assets and cash reserves are a part of the ratings, the ultimate purpose of ratings is to indicate the companys ability to pay claims, as that is what its in business to do.
4.
The cost of life insurance premiums is ultimately based on what type of table?
Actuarial. Actuarial tables are tools used to project life expectancy.
5.
Proceeds from a life insurance policy could be used to pay for your own funeral.
True. This is one of the common uses for life insurance; a policyholders surviving dependents use the proceeds for the policyholders funeral costs.