Topic 16- Financial Protection And Planning

Question 1

What type of insurance product is usually best to support a mortgage?

Answer 1

Term insurance

Question 2

What are the 4 ranks of financial need with 1 being the highest.

Answer 2

1. Protection of dependents in the event of premature death
2. Protection of dependents from the implications of losing the ability to earn income in the long term or long term illness.
3. Protection of income later in life
4. Increase and protection of the value of money save or invested either now or in the future.