_____ determines the amount of life insurance coverage required for an individual by considering his or her financial obligations and available financial resources in addition to life insurance.
A) The savings analysis method
B) The needs analysis method
C) The earnings analysis method
D) The liabilities analysis method
E) The borrowings analysis method

Question

Quizplus · Accepted Answer

The needs analysis method determines the appropriate amount of life insurance coverage based on the individual's financial obligations and available resources. This method considers factors such as mortgage payments, outstanding debts, future education expenses, and income replacement for dependents.

_____ Determines the Amount of Life Insurance Coverage Required for an Individual