Purchase Solution

Qualifying for life insurance

Not what you're looking for?

Ask Custom Question

What are the criteria in which an applicant must meet to qualify for life insurance.

Purchase this Solution
Solution Summary

The following posting discusses the criteria applicants need to meet to qualify for life insurance.

Solution Preview

As members of society continue to be more stringent in how they budget their money, one of the most concerning aspects of many is making sure their family is taken care after their death. Life insurance is a multi-billion dollar industry that takes into consideration many different aspects of the consumer's life when building the policy. From accidental to term life insurance, insurance companies must ensure they establish criteria's before the underwriting of the policy takes place. Below we'll discuss some of the criteria's in which an applicant must meet to qualify for a life insurance policy.

The cost per month or quarter, depending on how the applicant is billed, can vary based on certain aspects of their life that includes past and present medical conditions, amount of coverage wanted, age, location, job, and even ...

Purchase this Solution
Free BrainMass Quizzes
Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Operations Management

This quiz tests a student's knowledge about Operations Management

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

Employee Orientation

Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.

View More Free Quizzes
Related BrainMass Solutions

  • Computing Taxable Income and Tax Due or Refund

    is $30,000) sold for 14,000 Life insurance proceeds received on the death of her mother 100,000 Expenses: Home mortgage interest 6,000 Property taxes on home 2,000 Charitable contributions 7,000 Qualifying child care expense 3,700 Federal income

  • Determine gross income and dependency exemptions

    - Wilbur was the beneficiary of one of his father's life insurance policies. He elected to collect the proceeds of the $100,000 policy in four installments of $30,000 each. Each $30,000 payment consists of principal and interest.

  • Tax Deferred Exchange

    The type of property which would be considered for qualifying replacement property for Kelley.

  • Go Orange, Inc. Cash Flow classification

    During the year, the Company received proceeds of $20 million from its insurance carrier in connection with its claim for reimbursement for the destroyed building.

  • Schedule A Income Tax Calculation

    State income taxes withheld $ 1,675 <--- This is a qualifying tax that has been paid, and is used under "Taxes You Paid" for state and local taxes.

  • Employment Law for HR Practice

    Application: In this case, a qualifying event under the COBRA has occurred. This means termination of Fernandez employment for reasons other than gross misconduct.

  • Benefits and the Cafeteria Plan

    Some examples are: health, dental and life insurance, accidental death and dismemberment coverage, disability coverage and vacation leave. One exception, group life insurance in excess of $50,000, which is normally taxable, can be included.

  • Earned Income Credit: How it Works?

    The IRS (2010) defines earned income credit as "a tax credit for certain people who work and have low wages".

  • Taxation: Income, Liability, Marginal, Average and Effective

    Charlette was the beneficiary of a $100,000 whole life policy purchased by Marvin and a $50,000 group term life insurance policy purchased by Marvin's employer. The employer had paid premiums of $250 in Marvin's behalf.

View More Related Solutions