Health and Life insurance Assignment.

Chapters 4, 5, 6 Name: ____________________

Please be sure to cite sources for your answers, even if they come from the textbook or PowerPoints. All answers should be in your own words.

1. Briefly explain and describe a need for five variations of term life insurance.

2. Explain who should consider term insurance contracts and why. What are some criticisms of term life insurance?

3. a. List and explain seven general features of whole life insurance policies.

b. What are the key functions of whole life insurance policies?

4. Describe the two types of joint life insurance policies and what they are commonly used for.

5. Briefly discuss the origin and key features of the universal life insurance contract.

6. Describe both the death benefit options commonly available with universal life insurance.

7. Describe the cash-accumulation method of policy comparison, and explain its strengths

and weaknesses.