Which of the following statements regarding ways to determine the proper amount of life insurance is CORRECT?

Are you looking for the correct answer to the question “Which of the following statements regarding ways to determine the proper amount of life insurance is CORRECT?”? If that’s the case, you don’t have to worry anymore. Azanswer team is here with the right answer to your question. Please check below to know the answer.

Which of the following statements regarding ways to determine the proper amount of life insurance is CORRECT?

A) There are two basic approaches to determining the amount of life insurance that is needed: the human life value approach and the needs approach.

B) When using the needs approach to determine the proper amount of life insurance to purchase non-insurance-type assets, such as pension benefits or personal savings, are not factors in the calculation.

C) The most popular method today for determining the proper amount of life insurance is the human life value approach.

D) The needs approach considers only the most immediate financial concerns, without regard for family financial goals such as college education for children or retirement income for a surviving spouse.

Answer: A) There are two basic approaches to determining the amount of life insurance that is needed: the human life value approach and the needs approach.

The above question Which of the following statements regarding ways to determine the proper amount of life insurance is CORRECT?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.

Leave a Reply 0

Your email address will not be published. Required fields are marked *