The Income Method of Determining How Much Life Insurance Coverage

question 2

Multiple Choice

The income method of determining how much life insurance coverage you need is

• A) based on future family expenses.
• B) based on the age of your children.
• C) based on the amount of your 401(k) retirement plan.
• D) a good starting point.

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Definitions:

Real Defense

Legal defenses that can be used to challenge the validity of a contract, citing reasons such as fraud or duress.

Personal Defense

Strategies, practices, and methods used by an individual to protect themselves from harm or danger.

Promissory Note

A written promise to pay a specified sum of money to a certain individual or entity at a specified time or on demand, under specified conditions.

Fraud in the Inducement

A deceitful practice where a person is misled through misrepresentation to enter into a contract or agreement.