Life-and-Health-Exam-Prep Solved 100% Correct

28. Which type of life insurance is considered to be more risky based on its investment component? a. Level Term Life Insurance b. Whole Life Insurance c. Decreasing Term Life Insurance d. Variable Life Insurance 29. If someone has an employer-sponsored group life insurance policy, they do not need individual coverage. a. True b. False 30. With group life insurance, the risk is spread across a wider number of people. This results in higher premiums for unhealthy people and lower premiums for the healthier participants. a. True b. False 31. Group life insurance can be purchased via: a. Employer b. Professional organization c. Alumni association d. All of the above e. Both a and b only 32. Which type of life insurance policy allows the policy holder to move funds between the death benefit component and the savings component? a. Universal Life Insurance b. Term Life Insurance c. Variable Life Insurance d. Group Life Insurance 33. Jason, a healthy 25-year old, knew that he needed life insurance coverage to protect his wife and newborn son should he pass away suddenly. However, at the present time, he simply did not have a large budget in which to purchase such coverage. Which type of life insurance would be best for Jason’s current needs? a. Term Life Insurance b. Variable Life Insurance c. Universal Life Insurance d. Level Term Life Insurance 34. Insurance agents must obtain their securities license in order to offer which type of life insurance product? a. Universal Life Insurance b. Term Life Insurance c. Variable Life Insurance d. None of the Above 35. What are the two primary classes of life insurance? a. Variable and Universal b. Term and Permanent c. Whole and Universal d. Term and Universal 36. Which type of live insurance offers only a pure amount of death benefit with no component for cash value or i