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The Needs Approach to Determining Life Insurance Amounts Considers Which

question 211

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The needs approach to determining life insurance amounts considers which of the following?


Definitions:

Limited-Liability

This is a legal status that prevents a company's shareholders from being personally liable for the company's debts or liabilities beyond their investment in the company.

Articles of Incorporation

Legal documents filed with a governmental body to legally document the creation of a corporation.

State

A political entity with a centralized government that has sovereignty over a geographic area.

Partnership

An association of two or more persons to carry on as co-owners of a business for profit.

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