Explain the purpose of life insurance in an estate plan.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Introduction to Risk Management and Insurance

ISBN: 978-0131394124

10th edition

Authors: Mark S. Dorfman, David Cather

See More Books

Question Posted: Dec 07, 2015 06:17 AM

See More Questions

One life insurance expert suggests that people should never buy participating life insurance, because the purpose of life insurance is to reduce risk, not to increase it. Discuss.
What is the purpose of life insurance? Do you think everyone needs life insurance? Explain.
What is the purpose of life insurance? Define the terms face amount, beneficiary, life insured, and policy owner.
What are the four key building blocks of financial statement analysis? a. Liquidity and efficiency, solvency, profitability, and market b. Liquidity and efficiency, solvency, profitability, and...
Test the hypotheses H0: Px Py = 0 H1: Px Py < 0 using the following statistics from random samples. a. p`x = 0.42, nx = 500; p`y = 0.50, ny = 600 b. p`x = 0.60, nx = 500; p`y = 0.64, ny = 600 c....
For the circuit in Fig. 4.137, what resistor connected across terminals a-b will absorb maximum power from the circuit? What is that power? 3 k2 10 k 8 V 120 40 kS2
The bar has a length L and cross-sectional area A. Determine its elongation due to the force P and its own weight. The material has a specific weight (weight volume ) and a modulus of elasticity E. L...
For each category, indicate which condition is associated with higher rivalry among competitors.
What are the challenges and strategies for implementing TPM in highly regulated industries, such as pharmaceuticals or aerospace? How can TPM contribute to compliance and quality assurance in these...
The decision maker wishes to maximize the total benefit associated with three activities X, Y, and Z. The price per unit of activities, X, Y, and Z is $1, $2, and $3 respectively. The following table...
Describe a second-to-die life insurance policy. What purpose does it serve?
Define the term split-dollar life insurance.
For each of the following independent situations, determine whether the organization is at risk for receiving intermediate sanctions from the Internal Revenue Service for conferring excess economic...
In 2019, Deon and NeNe are married filing jointly. Deon and NeNes taxable income is $1,090,000, and they itemize their deductions as follows: real property taxes of $10,000, charitable contributions...
What are the main types of accounts included in the Income statement to determine profit or loss? Define each.
Use the following spreadsheet to work Problems . The spreadsheet provides data on oil and gasoline: Column A is the year, column B is the price of oil (dollars per barrel), column C is the price of...
When are fixed costs relevant in a short-term decision?
On 1 October, Coopers Appliance purchased $8800 of goods including GST for resale. On 11 October, it sold $4500 of these goods that cost $4400 including GST to customers at a selling price of $6600...
Solve each equation or inequality. Give the solution set in set notation for equations and in interval notation for inequalities. |7x 1| = 5x + 3|
Dan and Diana file a joint return. Dan earned $31,000 during the year before losing his job. Diana received Social Security benefits of $5,000. a. Determine the taxable portion of the Social Security...
Todd, age 40, is considering the purchase of a $100,000 participating ordinary life insurance policy. The annual premium is $2280. Projected dividends over the first 20 years are $15,624. The cash...
John, age 52, is overweight, smokes, and had a mild heart attack five years ago. Ignoring the advice of his physician, he refuses to exercise, lose weight, and quit smoking. John owns a $25,000...
Allison is trying to complete her income-tax return. A number of questions have come up about life insurance. Explain the tax treatment of each of the following. a. Allison is the beneficiary named...
After you've completed this week's assigned reading, watch the video below. Next, respond to the Discussion questions underneath. Your first post should answer those questions and should be made by...
Factorize (x4 - 20x + 100)
Paragraph discussing food insecurity in the United States. What agencies in the federal government play an important role in ameliorating this situation? What groups of people are at particular risk?

Explain the purpose of life insurance in an estate plan.

Question:

Step by Step Answer:

Life insurance proceeds are used to supply liquidity or cash to an ...View the full answer

Introduction to Risk Management and Insurance

Students also viewed these Corporate Finance questions