Which of the following statements is (are)true regarding the results of studies by LIMRA and New York Life Insurance Company on the adequacy of life insurance owned by households in the United States?
I.The average household is adequately insured against the risk of premature death.
II.The average household is significantly underinsured against the risk of premature death.

Question

Quizplus · Accepted Answer

The statement (II) is true, as both studies found that the average household is significantly underinsured against the risk of premature death, meaning they do not have enough life insurance coverage. However, statement (I) is false, as neither study found that the average household is adequately insured.

Which of the Following Statements Is (Are)true Regarding the Results