After a Divorce,the Noncustodial Parent Will Have No Need for Life

question 107

True/False

After a divorce,the noncustodial parent will have no need for life insurance on their former spouse.

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Definitions:

Interest Rate

The cost of borrowing money, typically expressed as a percentage of the amount loaned.

Income

The financial gain (earned or unearned) accruing over a given period of time.

Utility Functions

Mathematical expressions used in economics to represent a consumer's preference ranking for various bundles of goods.

Consumption

The utilization of goods and services by households or individuals to satisfy their needs and wants.