The Most Accurate Method of Determining Life Insurance Needs Is

question 62

Multiple Choice

The most accurate method of determining life insurance needs is

• A) the income method.
• B) the budget method.
• C) subtracting your annual income from $1 million.
• D) having enough insurance to provide $50,000 per year for 20 years.

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Definitions:

Special Status Groups

Groups of people accorded particular rights, privileges, or considerations within a society due to their unique characteristics or circumstances.

Aboriginal Peoples

Indigenous groups native to a specific area; in many contexts, this term is used in Canada to refer to First Nations, Inuit, and Métis peoples.

Québécois

Refers to a French-speaking inhabitant of Quebec, a province in Canada, or pertaining to the francophone culture of Quebec.

Head Tax

A tax imposed on each person or per head, historically used as an immigration control measure.