Question: Question 1. What is the difference between a named peril homeowners insurance policy and an open peril policy? Question 2. What are the main coverages

Question 1. What is the difference between a named peril homeowners insurance policy and an open peril policy?

Question 2. What are the main coverages provided by the homeowners' insurance?

Question 3. Explain the "like-kind replacement costs coverage". How is it different from the "guaranteed replacement cost coverage"?

Question 4. Define the "functional replacement cost coverage".

Question 5: Consider a home with a replacement cost of 220,000. Calculate the annual premium if the insurer charges a rate equal to 0.003.

Question 6: What is an umbrella policy? Explain.

Question 7: What does NFIP do?

Question 8: What is the main difference between the "term insurance" and "cash value" life insurance policies?

Question 9: Explain how annuities are a form of insurance against living too long.

Question 10: Explain how annuities are a tax advantaged savings vehicle.

Question 11. What is the difference between a straight life annuity and annuity certain?

Question 12. What is a deferred annuity?

Question 13. How variable life policies differ from universal life policies?

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