Question: 1. What is life insurance? What is its purpose?
2. What are the four methods of determining life insurance needs?
3. What are the two types of life insurance companies?
3. What are the five forms of term insurance?
4. What are the four forms of whole life insurance?
5. Is it legal or ethical for an insurance agent to suggest a variable life insurance policy to an 80-year-old man? Explain your answer.
6. Suppose that yours is a typical family. Your annual income is $60,000. Use the easy method to determine your need for life insurance.