1. Explain the difference between term life insurance and cash-value life insurance. Explain the differences between:Universal Life InsuranceVariable Life InsuranceVariable Universal Life Insuran

1.     Explain the difference between term life insurance and cash-value life insurance.  Explain the differences between:

1. 1. Universal Life Insurance
   2. Variable Life Insurance
   3. Variable Universal Life Insurance

2.     Why is the time value of money important to life insurance planning?  Give an example using the present value method for a 30-year-old compared with a 50-year-old using a 6% interest rate.

3.     Explain high-deductible health plans (HDHP) and healthcare savings accounts (HSA).  What are the 2019 deductibles and maximums?  What are advantages and disadvantages for an employer instituting a HDHP with an HSA?

4.     What is the Excise (Cadillac) Tax in the Patient Protection and Affordable Care Act and how does it impact employers?

5.     Over the past several years employers have been moving from a defined benefit plan to a defined contribution plan – why?  What are the benefits to the employer and to the employee?  Disadvantages?  How does PBGC play a role?

6.     What is the Primary Insurance Amount for Social Security?  How is it calculated for the 2019 benefit year?

7.     Explain the four parts of Medicare.