Life & Health Insurance
The person named to receive the proceeds from a life insurance policy.
Beneficiary
Annual premium for a 40 year old female, 20 year renewable term policy with a face value of $180,000.
$336.80
Find the annual whole life premium for a 30 year old female with $25,000 face value.
$288.75
Find the accumulated cash value for a $100,000 universal life policy at the end of year 9 with a 7% investment.
$20,299.70
Index earnings of $30,000 in 1997 to 2015
Life insurance for a specified time with no cash value.
Term insurance
Annual premium for a 35 year old male, 10 year renewable term policy with $130,000 face value.
$249.10
Find the annual whole life premium with a waiver of premium for a 40 year old mail with a face value of $85,000.
$1,654.35
Find the accumulated cash value for a $100,000 universal-life policy at the end of year 16 with a 5% investment.
$39,185.08
Find the primary insurance amount for AIME of $601.21
$541
Cash Value
Maximum amount of face value for a 29 year old male, 20 year renewable term policy with a budget of $18 per month. (assume a $60 annual policy fee)
$126,000
Find the total paid in whole life with a waiver of premium for a 43 year old female, $20,000 face value and for 10 years.
$3,802
Find the amount of premium that goes to the investment portion of a $100,000 universal life policy in year 5.
$1,630
Find the primary insurance amount for AIME of $3,784.52
$1,730
Paying a set amount for an office visit.
Copayment
Maximum amount of face value for a 37 year old female, annual renewable term premium with a budget of $25 per month. (assume a $60 annual policy fee)
$250,000
Find the total paid in premiums for a whole life policy on a 42 year old female, with a face value of $50,000 over 20 years.
$16,920
Find the amount of premium that goes to the investment portion of the $100,000 universal life policy in year 12.
$1,576
Basis for determining the amount of monthly retirement benefits received from Social Security
average indexed monthly earnings (AIME)
Coinsurance
Insurance that can be purchased again and again without a physical exam
Renewable
Find the maximum amount/face value of whole life insurance a 43 year old female can purchase for $600 per year. (assume a $30 annual policy premium)
$33,000
When the cash value equals the accumulated payments
Breakeven
Monthly retirement benefit received from the Social Security system
Primary Insurance Amount (PIA)