MTHEL131 Study Guide - Final Guide: Whole Life Insurance, With-Profits Policy, Term Life Insurance
20 Jan 2020
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3 universal truths about rent: rent goes up every year, you don"t get any money when you move out, no matter how long you live there, you will never reach a point when the rent becomes free. 3 universal truths of owning a home: mortgage payments are required (usually 25 years), when selling a house, owner keeps equity (more than before), but you need to buy another house after selling. 2 what kind of insurance: term insurance (5/10/20 year renewable term) - renting an insurance. Paul (30) needs k, lowest he needs to be may be /month. But there is a renewal point every 5/10/20 years, when paul becomes older thus he will be charged more (/month) when he"s 40 years old. At 50 year old, he would likely pay per month. This insurance contract is unilateral meaning only the insured can opt out. (usually done at the renewal point) He would pay per month at age 70.
