Mortgages and Insurance

You want to buy a house in the middle price range in a neighborhood.

• True

• False

You should buy a house with a conventional loan.

• True

• False

Term life insurance is less expensive than whole life insurance.

• True

• False

Mortgage life insurance is a good buy.

• True

• False

With a term life insurance policy, the premium stays the same over the life of the policy.

• True

• False

With older cars you should consider dropping collision coverage.

• True

• False

Cash value (whole) life insurance is a good way to save money.

• True

• False

The purpose of insurance is to transfer risk of loss.

• True

• False

You should have at least $500,000 in liability coverage.

• True

• False

You can get insurance for alien abductions and for body parts.

• True

• False