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Author Question: Jessica is an agent for LMN Life Insurance Company. She met with Brad, who was interested in ... (Read 36 times)

sam.t96

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on: Jul 11, 2018
Jessica is an agent for LMN Life Insurance Company.
 
  She met with Brad, who was interested in purchasing life insurance. Jessica explained the various uses of life insurance, including income for Brad's wife during the 1- or 2-year period following Brad's death. This period is known as the
  A) dependency period.
  B) estate clearance period.
  C) blackout period.
  D) readjustment period.

Question 2

Sarah is using the needs approach to determine how much life insurance to buy. Her cash needs are 30,000; her income needs are 140,000; and special needs are 100,000.
 
  Sarah has the following assets: 20,000 in bank accounts, 30,000 in retirement plans, and 40,000 in investment accounts. Sarah owns no individual life insurance. She is covered by a 50,000 group life insurance policy through her employer. Based on this information, how much additional life insurance should Sarah purchase?
  A) 80,000
  B) 130,000
  C) 150,000
  D) 160,000


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jojobee318

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: D

Answer to Question 2

Answer: B


sam.t96

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Reply #2 on: Jul 11, 2018
Thank you


jojobee318

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Reply #3 on: Jul 11, 2018
No problemo


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