When a person dies and is insured, who receives the life insurance benefits? A. beneficiary
B. dependents
C. government
D. parents
Which statement is true about term life insurance?
A. Term life insurance is usually the most expensive option for a young policy holder.
B. Term life insurance policies are permanent.
C. Term life insurance premiums increase as a person ages.
D. Term life insurance pays benefits to named beneficiaries when the policy holder dies during the duration of the policy.
Jon's house is worth $180,000 and he owes $142,500 on it. Which statement best describes how this affects his net worth?
A. Jon's house is considered a liability only because he still owes money on it.
B. Jon has an $180,000 asset and a $142,500 liability.
C. Jon has a $142,500 asset and an $180,000 liability.
D. Jon's house is considered an asset only because it is worth more than he owes