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Planning Intermediate: Choosing Life Insurance

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1.
The cost of life insurance premiums is ultimately based on what type of table?
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Actuarial. Actuarial tables are tools used to project life expectancy.
2.
If you are young and dont have much money to spend on life insurance, which is going to be more affordable for you?
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Term life insurance. Term is quite affordable for the young, though it rises in price as you age.
3.
Life insurance is designed to be used by _______.
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Your dependents. In its essence, it is for others.
4.
Life insurance is one field where having a license to practice is optional.
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False. Agents are required by law to be licensed in any state they practice in.
5.
Which of the following rates life insurance companies?
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Moodys Investors Service. Moodys is one of several rating companies. The others do not rate, though they are helpful sources of information.