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Unformatted text preview: “How much life insurance do I need?” asked the student. “Tell me exactly when you will die.” replied the teacher. Life Insurance Why? How much? What kind? Savings Life Insurance Definitions • Face Amount = Dollar coverage in the event of death of the policy holder. • Policy = the document of insurance stating the dollar face amount for the policy holder. • Premium = charge for insurance to the policy holder. Can be monthly, quarterly or annual. • Beneficiary = Person(s) to receive the death benefit. Why do you need life insurance? • D…ependents and Debt • I….ncome (+Business reasons) • M…ortgage on a house • E…vents and Education I am an OINK (one income, no kids). _____________________ A. Little B. A Lot I am married with young children. A. Little?…….B. A Lot? A. Little? …………. B. A Lot? We are married and in the empty nest period of our lives....
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- Fall '07
- Term life insurance, Whole life insurance, Permanent life insurance