1. Which of the following best describes what life insurance is designed to protect against?
probability of dying increasing as you grow older
outliving your income
dying before financial obligations have been met
loss of income due to retirement
2. Long-term care policies:
provide coverage that is normally triggered by an inability of the insured to understand the ramifications of their actions
are not standardized
are purchased by more than 70% of U.S. senior citizens
legal in only 38 states