
03/20/20 - Other Life Insurance Benefits
Quiz by Christopher Jones
High School
Financial Mathematics
Texas Essential Knowledge and Skills (TEKS) - Electives
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3 questions
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- Q1What is the cash value of your permanent life insurance policy?The amount of money that will pay out when you die.The amount of money your policy has earned on investments.300s130.180.F.10.A
- Q2What is the relationship between the premiums you pay and the cash value of your life insurance policy?Part of the premiums go towards investments that increase your cash value.Premiums pay towards the death benefit of your plan, which is your cash value.Premiums have no relationship to the cash value at all.300s130.180.F.10.A
- Q3Carlotta has paid $1,083 annually towards her whole life insurance policy for 30 years. The cash value of her policy is $53,845. How much can she take of that cash value without having to pay taxes?$1,083$32,490$53,845She cannot take any amount out without having to pay taxes.300s130.180.F.10.A