Module Assignment
Please be sure to cite sources for your answers, even if they come from the textbook or PowerPoints. All answers should be in your own words.
1. List the 5 steps in the recommended procedure to estimate a person's monetary value for the purpose of life insurance.
2. List and describe the six categories of needs to consider in determining the amount of insurance a person should carry.
3. Explain and provide an example of the use of each of the following reasons for purchasing life insurance:
a. Key person indemnification
b. Credit enhancement
c. Employee benefit plans
d. Business continuation
4. Define and provide an example of the following:
a. Risk pooling
b. Adverse Selection
5. Discuss the following two types of coverage and explain two key differences between these:
c. Yearly renewable term insurance
d. Level premium insurance
6. Define, explain, and provide an example of:
a. Preferred risk
b. Substandard Risk
7. Explain the steps involved in estimating death rates at different ages for use in constructing a mortality table.