Discuss how many credit cards you think you should have and why
What will be an ideal response?
Answer: Subjective answer ranging from one to many credit cards. Reasons vary from taking advantage of rewards to juggling payments on more than one card.
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All of the following statements about the tax treatment of life insurance are true EXCEPT:
(a) While a cash value policy is in force, the cash value accumulates tax-free. (b) Policyowners are required to pay taxes on policyowner dividends. (c) Lump-sum death benefits are received tax-free. (d) If life insurance proceeds are paid through an annuity, the portion of the annuity payment that represents interest is taxable income.
Smith and Jones Insurance has totally revised its individual health insurance policy. Tamika likes the coverage she already has and is concerned about the changes. She contacts the producer who sold her the policy, who tells her that
A) she has 6 months to accept the new policy B) rising health care costs have necessitated the changes, and her policy is still the best coverage available C) under the entire contract provision of her policy, the company has the right to make changes with 30 days' notice D) her policy will not be affected by the changes