Sven (age 38) and Nancy (age 34) have two children, Barry (age 4) and Brianna (age...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sven (age 38) and Nancy (age 34) have two children, Barry (age 4) and Brianna (age 2). Nancy is a business manager and Sven works part-time at a local grocery store. The couple meet with an insurance agent to discuss obtaining life insurance and their main objective is to provide coverage for Nancy as the main income earner. They also would like to have some level of coverage on Sven and mention that having some level of insurance on their children would also be desirable. If Sven and Nancy were to add a family coverage rider, which of the following statements is CORRECT? 1 Oa) Sven and Nancy will need to purchase additional coverage at a higher premium if they have another child. Ob) The coverage for Sven will be underwritten based on Nancy's age when the rider is issued. The term coverage on their children can extend beyond the coverage for Nancy. If Sven and Nancy have another child, the new child will be covered without an increase in premiums. Oc) Od) 888 Sven (age 38) and Nancy (age 34) have two children, Barry (age 4) and Brianna (age 2). Nancy is a business manager and Sven works part-time at a local grocery store. The couple meet with an insurance agent to discuss obtaining life insurance and their main objective is to provide coverage for Nancy as the main income earner. They also would like to have some level of coverage on Sven and mention that having some level of insurance on their children would also be desirable. If Sven and Nancy were to add a family coverage rider, which of the following statements is CORRECT? 1 Oa) Sven and Nancy will need to purchase additional coverage at a higher premium if they have another child. Ob) The coverage for Sven will be underwritten based on Nancy's age when the rider is issued. The term coverage on their children can extend beyond the coverage for Nancy. If Sven and Nancy have another child, the new child will be covered without an increase in premiums. Oc) Od) 888
Expert Answer:
Answer rating: 100% (QA)
Correct Answer Option D Explanation Option A is incorrect It is incorrect becau... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
A staff member at a local grocery store was assigned the job of inspecting all containers of yogurt in the store to determine the number of days to expiry date for each container. Containers that had...
-
Which of the following statements is correct about monetary unit sampling? a. The risk of incorrect acceptance must be specified. b. Smaller logical units have a higher probability of selection in...
-
Which of the following statements is CORRECT? O a. Stockholders in general would be better off if managers never disclosed favorable events and therefore caused the price of the firm's stock to sell...
-
The portfolio of stock that comprises the ASX200 index is currently worth $5000. The continuously compounded interest rates on Australian government bonds is 1.5% per annum for each of the next five...
-
A sample of iron-59 initially registers 125 counts per second on a radiation counter. After 10.0 d, the sample registers 107 counts per second. What is the half-life (in days) of iron-59?
-
What is the function of a costing department in a manufacturing concern? How is the costing department useful to other departments in a manufacturing concern?
-
Smith & Co, experienced the following six events in its first year of operations: 1. Shareholders contributed \($60,000\) cash. 2. Purchased land for \($40,000\) cash. 3. Borrowed \($18,000\) in cash...
-
Hayley Company's September 30 bank statement shows a balance of $53,810. Hayley's September 30 cash balance is $45,800. Hayley also has the following information: 1. Deposits made but not appearing...
-
the moh basis is direct labor hours. units produced=20, total direct materias cost=$33,000, total direct labor cost=$6,400, average direct labor cost per hour=$40/hr and manufacturing overhead...
-
Waddell Company had the following balances in its accounting records as of December 31, Year 1: The following accounting events apply to Waddell Companys Year 2 fiscal year: Jan. 1 Acquired $20,000...
-
Gingerbread House Inc. (GHI) is a bakery chain that sells both in a wholesale and retail environment. Gingerbread can be baked and sold up to five months after being packaged. Seasonal shapes and...
-
= 0.01 a. Decision: ___________________ b. Reason for the decision: ___________________ c. Conclusion (write out in a complete sentence): ___________________
-
An Italian ski manufacturer has determined that the fixed cost of making slalom skis is 1 million and the variable cost is 100 per pair of skis. During normal operations the firm plans to make 20,000...
-
The UK National Audit Office has costed recent peacekeeping and military operations by the UK military in other countries. The calculation is based on the cost of paying and supplying personnel,...
-
Chen Industries is planning to build a computer chip factory in Canada to make 10,000 chips per month. The company has two different options in manufacturing the chips. A CAM approach will cause...
-
Maverick Productions organizes rock concerts. Last year, the company rented the local sports arena for a rock concert that included the Rolling Rocks. The concert was a big success and Maverick...
-
Sugar Baby Corp. ( SBC ) is considering whether to build a refinery in the U . S . state of Georgia to serve its North American market. SBC is based in the UK and processes raw sugar into premium...
-
Evaluate the line integral, where C is the given curve. C x 2 dx + y 2 dy, C consists of the arc of the circle x 2 + y 2 = 4 from (2, 0) to (0, 2) followed by the line segment from (0, 2) to (4, 3)
-
a. A sample of 100 observations taken from a population produced a sample mean equal to 55.32 and a standard deviation equal to 8.4. Make a 90% confidence interval for b. Another sample of 100...
-
Refer to Exercise 10.34. Test at a 2.5% significance level if 1 is greater than 2. n1 = 48 1 = .863 s1 = .176 n2 = 46 2 = .796 s1 = .068
-
Refer to the information given in Exercise 10.3. Test at a 1% significance level if 1 is greater than 2. n1 = 18 1 = 7.82 1 = 2.35 n2 = 15 2 = 5.99 1 = 3.17
-
Show that the BFGS formula (B.23) can be written as: \[ \mathbf{C} \leftarrow\left(\mathbf{I}-v \boldsymbol{g} \boldsymbol{\delta}^{\top} ight)^{\top} \mathbf{C}\left(\mathbf{I}-v \boldsymbol{g}...
-
In Exercise 12 above, we train the multi-logit classifier using a weight matrix \(\mathbf{W}\) \(\in \mathbb{R}^{3 \times 7}\) and bias vector \(\boldsymbol{b} \in \mathbb{R}^{3}\). Repeat the...
-
Derive the formula (B.25) for a diagonal Hessian update in a quasi-Newton method for minimization. In other words, given a current minimizer \(\boldsymbol{x}_{t}\) of \(f(\boldsymbol{x})\), a...
Study smarter with the SolutionInn App