7. Comparing policies Aa Aa Shopping for Life Insurance Larry has determined tha

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7. Comparing policies Aa Aa Shopping for Life Insurance Larry has determined that a 10-year, $150,000 level term life insurance policy would best suit his needs. He consulted with one insurance broker, Tina Trustworthy, who quoted him a monthly rate of $300. He remembers learning in his personal finance course that it is different insurance agencies, so he plans to doing anything else, he decides to consult his aunt Ginny, an attorney, about the features of her life insurance policy. She tells Larry that she has a $100,000 whole life policy to compare similar policies from Before Which of the following are appropriate next steps for Larry? Check all that apply. Compare quotes for 10-year, $150,000 level term policies online. Research the ratings of different insurance companies, as awarded by private agencies such as Moody's. Ask Ginny if she can recommend a good agent, since attorneys tend to be good sources. Investigate the investment performance and dividend history of other insurance companies. Flash Player WIN 30,0,0,113 33.34.1 2004-2016 Aplia. All rights reserved 2013 Cengage Learning except as noted. All rights reserved Grade It Now Save & Continue Continue without saving

Explanation / Answer

The next step for Larry should be the below:

1. Compare quotes for 10 years, $ 150,000 level term policies online.

2. Research the ratings of different insurance companies, as awarded by private agencies such as Moody's.

3. Ask Ginny if she can recommend a good agent, since attorneys tend to be good sources.

It is very necessary to know about the policy, the terms and conditions mentioned for the policy and its payback percentage as compared to the other policies (other insurance companies policies) present in the market. Also, the ratings need to be checked as given by some of the private agencies who are into this kind of businesses. It is also recommendable to know in depth about the policy, so a good agent can be contacted for this purpose. It is recommended as the policy should serve your purpose giving the benefits that you require and that too in minimum premium, as it is directly your expense but provide security anyways.

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