The cost of a life insurance policy is based on:

Your age and health

Your income and age

Your marital status and health

Your tax bracket and annual income

A common rule of thumb for how much life insurance you should get is enough to cover:

A year's worth of expenses

Your mortgage payments

10-12 times your annual income

15 times your annual income

Which of these statements is false?

Term life insurance is affordable for me

You only need life insurance if you are married or have kids

Term life insurance can cover me and my kids

Getting life insurance is straightforward and uncomplicated

Most people get a life insurance policy because:

They want to have their final expenses, like a funeral, covered when they die

They want their family to have the lost income replaced

To protect their assets and savings

All of the above

Which choices describe term life insurance instead of whole life insurance?

Is in force until you reach the age 100 as long as you continue paying the high premiums

Expires after a set number of years

Is the life insurance policy you need with no extra charges for things you don't need

Covers exactly what you need for a set time

Can offer you living benefits and can help cover you in case of complete disability or other medically qualifying events

Is a life insurance policy that forces you to pay for both a savings policy and life insurance policy bundled in one, even though you only get the benefits from one

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