The income method, basing life insurance needs on multiples of current income, is the easiest and most accurate method of determining how much life insurance a person should buy.

Question

Quizplus · Accepted Answer

The income method, which involves buying life insurance based on multiples of current income, is indeed one of the simplest approaches, but it is not considered the most accurate. More comprehensive methods take into account various factors such as debts, living expenses, future education costs, and savings, providing a more tailored and accurate assessment of life insurance needs.

The Income Method, Basing Life Insurance Needs on Multiples of Current