Question: John age 52 is overweight smokes and had a mild
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 participating ordinary life policy that he purchased 20 years ago. A life insurance agent approached John and proposed that he replace the older policy with a new life insurance policy. The agent claims the new policy is superior to the older policy that was purchased years ago. Despite John's health problems, the agent claims that John can get life insurance from his company. What factors should John consider before replacing the older policy with a new policy?
Answer to relevant QuestionsAllison 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 in her grandfather's life ...Describe the suggestions that consumers should follow when life insurance is purchased.Investors can invest in a wide variety of annuities and can also use different annuity settlement options to meet specific retirement needs. For each of the following retirement objectives, identify either (1) a specific ...What are the annual contribution limits to an IRA?Identify the major provisions of the Affordable Care Act that will have an impact on individuals and families.
Post your question