Unit 2: The Need for Life Insurance Flashcards
1
Q
the chief function of life insurance is to create
A
an estate
2
Q
total needs approach
A
Totaling the amounts required to pay for current and future expenses
3
Q
deceased’s final expenses
A
Medical and funeral expenses, plus debts or current bills,
4
Q
One method of creating or building an estate is a
A
savings account or savings plan
5
Q
another method of accumulating an estate
A
Investment in the stock market
6
Q
living benefit
A
cash value
7
Q
A life insurance policy’s cash value can be used as collateral for
A
borrowing money
8
Q
human life value
A
value to others that a life has in monetary terms
9
Q
A
