Bridge the gap between the financial needs of your dependent

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Reference no: EM132084937

Answer True or False:

1) Life insurance helps bridge the gap between the financial needs of your dependents and the amount available from other sources, is the amount to be provided by life insurance.

2) Life insurance provides a generally income tax-free lump sum of money for your survivors in the event of your death. The appropriate amount of insurance depends only depends on your age

3) You won't have to pay federal or state income taxes on the money you withdraw from your 529 College Savings Plan if the money is used to pay for qualified higher-education expenses.

4) The Federal Tax Cut and Jobs Act of 2017 that was signed into law on December 22, 2017 enables 529 plan owners to withdraw assets to pay for K-12 tuitions up to $10,000 per year beginning in 2018. These withdrawals will have no federal tax impact. The indivudal will not be taked on the plan earnings if used to fund K-12 education within the laws limits.

5) if you are citing an article from a scholarly journal, using the MLA style, you should include the volume and issue numbers before the date and page numbers in the citation.

6) If you don’t know the name of an author for an article or web page, you should begin the citation in the bibliography with Anonymous, followed by the title of the article or web page.

Reference no: EM132084937

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