1. The ________ is the right of the policyholder to choose to receive the policy's cash value in exchange for the policyholder giving up his or her right to a death benefit.

2. Your agent argues in favor of cash-value life insurance- You counteract with term to

3. An HSA is a good form of health care coverage for young, healthy people who rarely get sick.

4. A flexible spending account saves you money on qualifying healthcare and childcare expenses.

5. Currently only 10% of Americans receive some type of government health care entitlements such as Medicaid or Medicare.

6. With COBRA coverage, the employer pays the premiums.

7. Term life insurance has a life insurance component and a savings plan.

8. Long-term care insurance may not be a good buy for people under the age of 40.

9. Insurance that covers medical costs beyond those covered by basic health insurance is

10. All of the following are true regarding Health Savings Accounts except

11. You want to get a good buy on your life insurance contract- You find a book that compares insurance costs by incorporating the time value of money into its calculations- This method allows you to select wisely using the

12. When the Affordable Care Act is fully implemented, 100 percent of Americans will have health care insurance.

13. Which of these life insurance plans holds the annual premium constant but decreases the face value of the policy each year?

14. Who needs disability insurance?

15. Most major health care policies cover hospital, surgical, and physician coverages.

16. Congress worked diligently in 2010 to pass a health care bill designed to make sure that almost all Americans have health insurance coverage- What is the official name of this act?

17. Suppose that you earn $50,000 annually- You expect expenses to drop by 22% for your family in the event of your death- Currently, if you die, you want to provide for your family for at least 15 more years, and the applicable after-tax and inflation return assumed is 5%- Using the earnings multiple approach provided in your textbook, what would be the amount of life insurance that you should purchase?

18. Long-term disability will replace 100% of your income while you are unable to return to work.

19. Term life insurance provides protection for a specified amount of time; typically 1-30 years.

20. The ________ rider increases your death benefits at the same rate as inflation without forcing you to complete a new medical exam.

21. Long-term care insurance provides money to help pay for nursing home and home health care expenses.

22. Veronica was recently diagnosed with a heart condition- Her doctor's bill was $4,200 for the diagnostics- Her policy has a $250 deductible and a 80/20 coinsurance provision up to $10,000 and then the insurance pays 100% thereafter- In total, how much will Veronica pay for her diagnosis?

23. The Patient Protection and Affordable Care Act was signed into law in 2010; however many of its aspects do not go into effect until 2020.

24. With term life insurance, the beneficiary receives a fixed death benefit.

25. With decreasing term insurance, each time the term insurance is renewed the premium decreases.