Which formula shows the needs based method of estimating the amount of life insurance needed?

Question

Quizplus · Accepted Answer

The formula D, "Life insurance needed = total needs - existing assets to meet the needs," shows the needs-based method of estimating the amount of life insurance needed. This formula takes into account the total financial needs that the individual or their dependents would have in the event of their death, and subtracts any existing assets or insurance policies that could be used to meet those needs. This provides a more accurate estimate of the amount of life insurance needed to ensure that the remaining financial needs can be met.

Which Formula Shows the Needs Based Method of Estimating the Amount