Class 17 - o M.ortgage on a house o E.vents and education...

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Life Insurance - Definitions o Face amount: dollar coverage in the event of death of the policy holder o Policy: the document of insurance stating the dollar face amount for the policy holder o Premium: charge for insurance to the policy holder. Can be monthly, quarterly, or annually o Beneficiary: person(s) to receive the death benefit - Why do you need life insurance? o D.... ependents and debt o I….ncome (+business reasons)
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Unformatted text preview: o M.ortgage on a house o E.vents and education No life insurance on babies-How much do I need? o Compute numbers through D-I-M-E approach-What kind do I need? o Term Insurance for a certain period of time o Permanent (whole life, cash value) Insurance plus a savings or investment component Coverage for your whole life Costs 10x the amount of term...
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This note was uploaded on 12/01/2011 for the course HDFS 238 taught by Professor Boyce during the Fall '10 term at Michigan State University.

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