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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? Dependents and Debt I.ncome (+Business reasons) Mortgage on a house Events 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