Which of the Following Best Explains Why Approximately One-Third of Households

question 68

Multiple Choice

Which of the following best explains why approximately one-third of households in the United States do not have life insurance?

• A) People like to focus on more enjoyable events.
• B) There is no immediate financial benefit.
• C) People don't want to make the periodic payments.
• D) All of these are correct.

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Definitions:

Financially Responsible

Refers to the ability or action of managing one's resources effectively, ensuring bills and debts are paid on time, and preparing for future financial obligations.

Guarantee

A formal promise or assurance that certain conditions will be met, including the quality or durability of a product, or the repayment of a loan.

Interest Rate

The percentage at which interest is charged or paid on borrowed or invested funds over a specific period of time.

Illness

A condition of being unwell, either physically or mentally.