5. Life insurance considerations for young, single, and childless people Do Youn

Question

5. Life insurance considerations for young, single, and childless people Do Young, Single, and Childless People Need Life Insurance? True or False: Life insurance is intended primarily for your own benefit. False True True or False: A young, single, and childless person generally doesn't need life insurance alse True True or Fa A young, single, and childless person generally should wait to buy life insurance until the need arises. rue False True or Fa A young, single, and childless person might buy life insurance to pay off his or her debts or to cover final expenses. alse rue True or False: Advising a young, single, and childless person to buy life insurance to lock in a low rate is a bad idea False True True or False: Knowing how life insurance pertains to young, single, and childless people could help you or a friend avoid an aggressive, persuasive sales pitch. False True

Explanation / Answer

Life Insurance is intended primarily for your own benefit.

False

A young single or childless person generally does not need life insurance

False

A young single or childless person generally should wait to buy life insurance until the need arises

False

A young single or childless person might buy life insurance o pay off his or her debts or to cover final expenses

True

Advising a young single or childless person to buy life insurance to lock in a low rate is a bad idea

True

Knowing how life insurance pertains to young single or childless person could help you or a friend avoid an aggressive, persuasive sales pitch.

True

I want to use my life insurance as a savings vehicle in addition to providing insurance coverage

Whole

I want flexibility in the amount I pay in premiums each month

Universal

I want a large amount of coverage for a low premium cost

Whole

If i decide to cancel my policy while I am still alive, I want access to the cash value

Universal

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