() on a monthly basis (c) as the individual\'s mood changes (d) as the individua
ID: 1154732 • Letter: #
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() on a monthly basis (c) as the individual's mood changes (d) as the individual goes through different stages of life. 6. An individual's insurance needs change (a) according to the political party in power 7. Term-life insurance (a) is strictly insurance (b) is strictly savings () is more expensive than a straight-life policy for a young, male non-smoker (d) always maintains a high cash value. 8. The difference between property insurance and liability insurance is that (a) property insurance costs more (b) liability insurance is more expensive (c) property insurance, unlike liability insurance, provides financial protection against loss or damage to an insured person's property (d) liability insurance, unlike property insurance, provides financial protection against loss or damage to an insured person's property. 9. The two most common types of property and liability insurance are (a) motor vehicle insurance and homeowner's insurance (b) life insurance and health insurance (c) acci- dent insurance and a will (d) life insurance and theft insurance. 10. An HMO is (a) another name for home health care (b) another name for the federal Medicaid program (c) a health maintenance organization (d) a health plan that allows the consumer unlimited choice regarding physicians.Explanation / Answer
Question 6
Insurance, in general, acts as beneficial preposition in case of happening of adverse event in one's life.
Demand for insurance and its various variants depends on the need of the person concerned.
However, at different stages of life, a person's need with respect to insurance also changes.
So, an individual's insurance needs change as the individual goes through different stages of life.
Hence, the correct answer is the option (d).
Question 7
Term-life insurance refers to the insurance arrangement in which policy strictly comes with death benefit.
This means term insurance policy has no cash value that is it cannot be cashed out.
Benefit of policy is paid only in event of death of policy holder.
Term life insurance plan is for a particular period. After that policy holder can either terminate or renew the policy.
So, term-life insurance is strictly insurance.
Hence, the correct answer is the option (a).
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