XCEL USES OF LIFE INSURANCE FULL
SOLUTION VIEW AHEAD QUESTIONS AND
ANSWERS STUDY COMPANION
●● Which business use is a policy loan not typically used for
Answer: Executive vacations
●● In life insurance the needs approach is mostly used to establish
Answer: How much life insurance a client should apply for
●● I split dollar plan would most likely be had by a
Answer: Division manager
●● Which of these is not a reason for a business to buy key person life
insurance
Answer: A pension deficiency if the key employee dies
●● All of the following are considered appropriate uses of life insurance
for business purposes except
Answer: Protecting the business by covering entry level employees with
life insurance
SOLUTION VIEW AHEAD QUESTIONS AND
ANSWERS STUDY COMPANION
●● Which business use is a policy loan not typically used for
Answer: Executive vacations
●● In life insurance the needs approach is mostly used to establish
Answer: How much life insurance a client should apply for
●● I split dollar plan would most likely be had by a
Answer: Division manager
●● Which of these is not a reason for a business to buy key person life
insurance
Answer: A pension deficiency if the key employee dies
●● All of the following are considered appropriate uses of life insurance
for business purposes except
Answer: Protecting the business by covering entry level employees with
life insurance
