1:All variable life insurance policies guarantee a minimum death benefit
true or false
2:An insurance premium is a fee paid to an insurance company in exchange for risk protection.
true or false
3:I have a $300,000 mortgage. I am paying for two college tuitions. My salary is the only source of family income. It would not make sense for me to buy life insurance because this will only increase my expenses.
true or false
4:If you buy a life insurance policy that insures your life for $1,000,000 you are the "Insured".
true or false
5:If you purchase a variable life insurance policy, then amount of the death benefit depends on the returns of earned by the funds where your premiums are invested.
true or false
6:If you stop paying the premiums on a term life insurance policy, the insurance company will pay you the value of all premiums paid plus interest.
true or false
7:In general, level term life insurance is high-benefit coverage you buy for a set period of time. Premiums are typically lower than for permanent insurance such as universal life policies.
True or false
8:Life insurance helps bridge the gap between the financial needs of your dependents and the amount available from other sources, is the amount to be provided by life insurance.
True or false