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20 Jun 2022, 07:30
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
55%
(hard)
Question Stats:
62% (01:43) correct
38%
(01:46)
wrong
based on 146
sessions
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Not Attempted Yet
A life insurance company allows people to prepay their endowment insurance at current rates. The policyholder then pays the premium every year. People should participate in the program as a means of decreasing the cost for their living after retirement.
Which of the following, if true, is the most appropriate reason for people NOT to participate in the program?
A. Peoples are unsure about which insurance company they will choose after retirement.
B. The amount of money accumulated by putting the prepayment funds in an interest-bearing account today will be greater than the total cost of insurance when they retire.
C. The annual cost of premium is expected to increase at a faster rate than the annual increase in the cost of living.
D. Some of the insurance companies are contemplating large increases in premium next year.
E. The prepayment plan would not cover the cost of hospitalization.
Which of the following, if true, is the most appropriate reason for people NOT to participate in the program?
A. Peoples are unsure about which insurance company they will choose after retirement.
B. The amount of money accumulated by putting the prepayment funds in an interest-bearing account today will be greater than the total cost of insurance when they retire.
C. The annual cost of premium is expected to increase at a faster rate than the annual increase in the cost of living.
D. Some of the insurance companies are contemplating large increases in premium next year.
E. The prepayment plan would not cover the cost of hospitalization.
22 Jun 2022, 04:27
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I think its B.
As it shows that if buyers just save that much money till retirement, they would still able to buy it.
I was confused between A, B and E
A - It doesn't tackles any assumption
E - Not as strong as B.
I would request an expert to validate.
Thanks
As it shows that if buyers just save that much money till retirement, they would still able to buy it.
I was confused between A, B and E
A - It doesn't tackles any assumption
E - Not as strong as B.
I would request an expert to validate.
Thanks
05 May 2024, 03:59
Kudos
Bookmarks
Bunuel
A life insurance company allows people to prepay their endowment insurance at current rates. The policyholder then pays the premium every year. People should participate in the program as a means of decreasing the cost for their living after retirement.
Which of the following, if true, is the most appropriate reason for people NOT to participate in the program?
A. Peoples are unsure about which insurance company they will choose after retirement.
B. The amount of money accumulated by putting the prepayment funds in an interest-bearing account today will be greater than the total cost of insurance when they retire.
C. The annual cost of premium is expected to increase at a faster rate than the annual increase in the cost of living.
D. Some of the insurance companies are contemplating large increases in premium next year.
E. The prepayment plan would not cover the cost of hospitalization.
Hi Banuel,Which of the following, if true, is the most appropriate reason for people NOT to participate in the program?
A. Peoples are unsure about which insurance company they will choose after retirement.
B. The amount of money accumulated by putting the prepayment funds in an interest-bearing account today will be greater than the total cost of insurance when they retire.
C. The annual cost of premium is expected to increase at a faster rate than the annual increase in the cost of living.
D. Some of the insurance companies are contemplating large increases in premium next year.
E. The prepayment plan would not cover the cost of hospitalization.
Can you please explain why C is wrong? I assumed that as cost of premium is expected to icrease at a faster rate than the annual increase in the cost of living, this won't provide any additional value and there is no point of participating in the program.
