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Planning Intermediate: Choosing Life Insurance

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1.
Life insurance is designed to be used by _______.
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Your dependents. In its essence, it is for others.
2.
Which of the following might be a good source to find a life insurance agent?
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All of the above. These are effective sources of information.
3.
The cost of life insurance premiums is ultimately based on what type of table?
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Actuarial. Actuarial tables are tools used to project life expectancy.
4.
The financial soundness of a life insurance company matters to you because it affects the companys ability to pay your claims.
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True. Indeed, this is what insurance companies are in business for, and the healthier they are, the better they can pay claims.
5.
Which of the following is a typical guideline for life insurance coverage for your dependents?
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5-10 times your yearly salary. This is a general rule; there are exceptions to it, of course.