Question

When a person dies and is insured, who receives the life insurance benefits?

A. beneficiary
B. dependents
C. government
D. parents
Which statement is true about term life insurance?
A. Term life insurance is usually the most expensive option for a young policy holder.
B. Term life insurance policies are permanent.
C. Term life insurance premiums increase as a person ages.
D. Term life insurance pays benefits to named beneficiaries when the policy holder dies during the duration of the policy.
Jon's house is worth $180,000 and he owes $142,500 on it. Which statement best describes how this affects his net worth?
A. Jon's house is considered a liability only because he still owes money on it.
B. Jon has an $180,000 asset and a $142,500 liability.
C. Jon has a $142,500 asset and an $180,000 liability.
D. Jon's house is considered an asset only because it is worth more than he owes

Answer 1

Question 1. A

Question 2. D

Question 3. B

Explanation:

Number 1 is A because, primary beneficiary: The primary beneficiary is the person (or persons) who will receive the proceeds of the life insurance policy when the insured person dies. However, the primary beneficiary will not receive any proceeds if he or she dies before the death of the named insured.

Question 2 is D because, After when someone dies, the beneficiary of the life insurance policy will require to make a death claim to receive the insurance amount.

When you have a term life insurance policy, the value or the death benefit, it will not have any impact on the benefits you receive.

Life insurance is one of the type of insurance, or risk protection, that gives payment to a nominated beneficiary after the policyholder's death.

Term life insurance pays advantages to those who named beneficiaries when the policy holder dies during the time of the policy.

.When a person dies, the insurance company investigates and then claim and then pays out to the death benefit.

Best of luck!!