Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN: 9780357033609
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
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Question
Chapter 10, Problem 7FPE
Summary Introduction
To identify: The appropriate type of supplemental insurance for the L family in the light of their expressed concerned.
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Students have asked these similar questions
Vern has a whole life policy, and he has named his wife Corinne as a revocable
beneficiary. He is considering changing her status to an irrevocable beneficiary, but is
unsure of the potential consequences. If Vern makes Corinne irrevocable beneficiary,
what actions can he still take without Corinne's permission?
i) Receive policy dividends.
ii) Obtain a policy loan.
iii) Assign the policy.
iv) Let the policy lapse.
a) i) and ii)
Ob) i) an iv)
c) ii) and iii)
d) iii) and iv)
Which of the following situations describes a risk exposure that can be most appropriately insured against with an individual disability income policy?
A)A self-employed bookkeeper earns $40,000 a year out of a small office located in her neighborhood, and wants to protect her income.
B)A lawyer wants to make sure his business overhead expenses are covered if he becomes disabled.
C)A couple with a military retirement income manages a self-storage business, and they are compensated with a place to live that is on the premises of the business.
D)An accountant's spouse owns the building in which the accounting office is located. All of the practice’s income is used to pay rent and other business expenses, so the accountant has no compensation from the business.
Answer the following questions
What do you think of Brad and Barbara’s seeking help for Brad’s parents?
What prompted Richard to seek assistance? Was it only because of Brad and Barbara?
What type of financial plan seems appropriate for Richard and Monica and why do you think Monica didn’t react more negatively to the financial news?
Chapter 10 Solutions
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
Ch. 10 - Prob. 1LOCh. 10 - Identify the types of coverage provided by...Ch. 10 - Prob. 3LOCh. 10 - Prob. 4LOCh. 10 - Prob. 5LOCh. 10 - Choose a property and liability insurance agent...Ch. 10 - Prob. 1FPECh. 10 - Last year, Thea and Rory Brown bought a home with...Ch. 10 - Prob. 3FPECh. 10 - Prob. 4FPE
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ISBN:9780357033609
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Publisher:Cengage Learning