Question: Tommy, A licensed insurance agent, meets with his client Ryan and Grace to review the universal life UL insurance policy they purchased two years ago.

Tommy, A licensed insurance agent, meets with his client Ryan and Grace to review the universal life UL insurance policy they purchased two years ago. A lot has changed for the couple as they recently welcomed the addition of their first child, Gloria. The policy is on Ryan's life with Grace named as a beneficiary. While reviewing the policy. Tommy recommends several changes. Which of the following changes would require underwriting?

a. Decreasing the monthly premium

b. Adding Gloria as a beneficiary via a trust

c. Making changes to the investments

d. Adding a family rider to the policy

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

3. MBATech, Inc., is negotiating with the mayor of Bean City to start a manufacturing plant in an abandoned building. The cash flows for MBAT's proposed plant are: when the cash flow is given by...

Tommy, A licensed insurance agent, meets with his client Ryan and Grace to review the universal life UL insurance policy they purchased two years ago. A lot has changed for the couple as they...

Martin, a licensed insurance agent, meets with his client Kim for an insurance review. Kim had purchased a 10-year term policy from Martin a few years ago and is now considering exercising the...

Ob) Martin, a licensed insurance agent. meets with his client Kim for an insurance review. Kim had purchased a 10-year term policy from Martin a few years ago and is now considering exercising the...

Life Insurance Questions: 1. Dylan makes $120,000 annually. The provincial tax credit in his province on charitable donations is 10% on the first $200, and 18% on amounts over $200. The federal tax...

1.You and your client Kerpal have concluded that his insurance needs would be best served with a participating whole life policy. You have reviewed the historical dividend scale and he is satisfied...

1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...

Life Insurance Questions: 1. You are reviewing your client Henryk's existing insurance coverage as part of your insurance needs analysis for him. Which of the following statements about group life...

1. You are reviewing your client Henryk's existing insurance coverage as part of your insurance needs analysis for him. Which of the following statements about group life insurance is correct? A. If...

On 1117 Swift Inc is going to buy the net assets of Kanye Inc Swift is willing to pay fair market value of the net assets plus excess earnings The excess earnings will be capitalized at prime plus 1...

The following data were collected by Bemidji Co. for the month of June: Static budget data: Sales Variable costs Total fixed costs Actual results: Sales Variable costs Total fixed costs. Sales...

Evaluate the integral. ( Use C for the constant of integration. ) 2 tan 3 ( 2 x ) sec 5 ( 2 x ) dx

Park Company purchased 90% of the stock of Salt Company on January 1, 2009, for $465,000, an amount equal to $15,000 in excess of the book value of equity acquired. This excess payment relates to an...

The following information is available for Pyle Garage for March 2016: The following is a list of checks and deposits recorded on the books of Pyle Garage for March 2016: Other Information 1. Check...

The market for olive oil in New York City is controlled by two families, the Sopranos and the Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter the New York...

New Bio Corporation is a rapidly growing biotech company that has a required rate of return of 12%. It plans to build a new facility in Mississauga, Ontario. The building will take two years to...

Philip Morris and R.J. Reynolds spend huge sums of money each year to advertise their tobacco products in an attempt to steal customers from each other. Suppose each year Philip Morris and R.J....

Among a group of 5 8 programmers, who know either Java or Python or both, 1 5 only know Java and 1 3 only know Python. What is the probability of randomly choosing a programmer who knows both...

2. In what way can we say that method affects the result we get?

4. In what way will relationships in a system influence what is reported?

3. Mention three examples where you distorted information that you had taken from your memory and where others made you aware of the fact that you had distorted the information. Did it create a...