Term
| what do many life insurers and premium quoting services have on their websites that calculates the amt of life insurance needed? |
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Definition
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Term
| most American families own an insufficient amt of |
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Definition
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Term
| people delay buying life insurance b/c although term insurance premiums have declined to historically low levels, consumers believe life insurance is |
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Definition
| too expensive to purchase |
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Term
| people delay buying life insurance b/c consumers have difficulty in making correct decisions about |
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Definition
| purchasing life insurance |
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Term
| ppl delay buying life insurance b/c many consumers procrastinate and never |
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Definition
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Term
| refers to what the insured policy owner gives up when life insurance is purchased |
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Definition
| opportunity cost of life insurance |
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Term
| since income is limited, the purchase of life insurance reduces the amt of what type of income available for other high-priority needs? |
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Term
| after the pmt of high-priority expenses, many family heads have only a limited amt of discretionary income available to purchase life insurance, so the optimal amt of life insurance that should be purchased |
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Term
| after determining the amt of life insurance to purchase, the final step is to select the |
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Definition
| proper type of life insurance to purchase |
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