FIN-1100 Chapter Notes - Chapter 8: British Association For Immediate Care, Life Insurance, Term Life Insurance
2 Jun 2017
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Pfin ch 8- insuring your life- summaries and key. L01- explain the concept of risk and the basics of insurance. Adequate life insurance coverage not only protects what you"ve already acquired but also helps ensure the attainment of unfulfilled financial goals. Through the underwriting process, insurance companies decide whom they consider an acceptable risk and the premiums to charge for coverage. L02- discuss the primary reasons for life insurance and identify. Life insurance fills the gap between the financial resources available to your dependents if you should die prematurely and what they need to maintain a given lifestyle. Some policies provide only a death benefit; others also have a savings component. If you have children or elderly relatives who count on your income to support them, you should include life insurance as one of several financial resources to meet their requirements. If you have no dependents, you probably don"t need life insurance.
