Which person would most likely purchase a life insurance policy with a $1 million death benefit?A.Hang is single and just starting his career, and his parents are financially stable.B.Walid is elderly and has no close living relatives.C.Carlos has three young children and a large mortgage.D.Josi owns her home and is debt-free, and her children are grown with careers of their own.SUBMITarrow_backPREVIOUS
Question
Which person would most likely purchase a life insurance policy with a $1 million death benefit?A.Hang is single and just starting his career, and his parents are financially stable.B.Walid is elderly and has no close living relatives.C.Carlos has three young children and a large mortgage.D.Josi owns her home and is debt-free, and her children are grown with careers of their own.SUBMITarrow_backPREVIOUS
Solution
The person who would most likely purchase a life insurance policy with a $1 million death benefit is Carlos. Here's why:
A. Hang is single and just starting his career, and his parents are financially stable. He might not see the need for a life insurance policy at this point in his life, especially with a $1 million death benefit, as he has no dependents and his parents are financially stable.
B. Walid is elderly and has no close living relatives. He might not see the need for a life insurance policy as he has no dependents who would benefit from the policy in the event of his death.
C. Carlos has three young children and a large mortgage. He would most likely purchase a life insurance policy with a $1 million death benefit to ensure that his children are taken care of and his mortgage is paid off in the event of his death.
D. Josi owns her home and is debt-free, and her children are grown with careers of their own. She might not see the need for a life insurance policy as she has no debts and her children are financially independent.
Therefore, Carlos is the most likely to purchase a life insurance policy with a $1 million death benefit.
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