Introduction to Business

Section 1: Life Insurance

Self-Checks

1
Someone who receives part or all of the proceeds of a life insurance policy is a(n) ______ .
A)addressee
B)beneficiary
C)heir
D)recipient
2
Another name for cash-value insurance is ______ insurance.
A)permanent
B)term
C)universal life
D)hole life
3
Policyholders purchase ________ insurance if they want flexibility in premium payments and death benefits as their financial situation changes.
A)permanent
B)term
C)universal life
D)whole life
4
With _______ insurance, the cash value part of the premium is used for investments such as stocks, bonds, and mutual funds.
A)cash value
B)group life
C)investor life
D)universal life
5
If the insured person lives beyond the term of a term insurance policy, the policy has ______ value.
A)double
B)face
C)market
D)no
6
Whole life insurance provides ______ during the policyholder's life.
A)benefits
B)cash
C)income
D)savings
7
In general, the cost of term life insurance is ______ the cost of cash-value insurance.
A)cannot be compared to
B)less than
C)more than
D)similar to
8
Life insurance costs more for people in ______ occupations.
A)dangerous
B)high-paying
C)sedentary
D)stressful
9
With whole life insurance, the premium ______ as the policyholder ages.
A)decreases
B)escalates
C)increases
D)stays the same
10
When a married person dies, the life insurance policy proceeds will go to the policyholder's _______ .
A)beneficiaries
B)children
C)spouse
D)survivors
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