Constance arranged for a universal life insurance policy with a face value of $450,000,when she was married.The current cash value of the policy is $12,132.Her premium is $1,500 per year.She wants to buy a new car and is looking for items in her budget that can be put towards the car payment.How many years and months could she suspend her premium payment so that the cash value could be used to pay the premium?
Correct Answer:
Verified
Q31: Where does the money come from to
Q32: Isaiah's employer has a pension plan that
Q33: Jackson inherited $50,000 at the age of
Q34: An insurance company uses the mortality table
Q35: Marianne opened a retirement account that has
Q36: Mr.Jenkins is almost 67 years old and
Q38: Sherlock invested a $100,000 reward for making
Q39: Last year,Mrs.Washington had a taxable income of
Q40: Caleb's annual salary is $45,000 per year.His
Q41: Cameron started contributing $400 per month to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents