Fill in the Blank QuestionFill in the blank question.One of the many common uses of life insurance proceeds is to pay off a home and other debts at the time of death.

Credit life insurance is used to repay a personal debt should the borrower die before doing so.Group of answer choicesTrueFalse

Which of the following statements about the ‘Life Insurance’ section of the lecture material are TRUE:Life insurance policies that bundle a savings product together with death cover in one policy can be a good option for people who would like to make sure that they receive a payout at age 60 whether they live until 80 or die prematurely before the age of 60.Trauma insurance pays a lump-sum amount upon diagnosis of a serious illness, such as cancer. This could be a useful form of insurance if someone has a history of a particular type of cancer in their family.Question 8AnswerNeither of the statements are true (both are false)Only statement 1 is trueOnly statement 2 is trueBoth statements are true (neither are false)

Fill in the Blank QuestionFill in the blank question.When considering life insurance, you should consider present and sources of income.

Multiple Select QuestionSelect all that applyLife insurance proceeds can be used wisely to:Multiple select question.establish a name for yourself.purchase new large gifts.pay off home mortgage or debts.provide education or income for children.establish regular income for survivors.

Fill in the Blank QuestionFill in the blank question.Households with children have the greatest need for life insurance.