To discuss: The purpose of life insurance and discuss whether everyone requires life insurance.
Explanation of Solution
The life insurance gives payment to a particular beneficiary during the death of the policyholder. It permits the individuals to remove or substantially decrease the financial effects of their death on dependents. The life insurance is mainly significant to safeguard a financial situation of the family in few happenings that when the breadwinner of a family dies, expenditures like medical expenses or burial expenses might be covered by the life insurance. If nobody depends on the income of the individual, then life insurance might not be required.
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Chapter 13 Solutions
Personal Finance, Student Value Edition Plus MyLab Finance with Pearson eText -- Access Card Package (6th Edition)
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- Pfin (with Mindtap, 1 Term Printed Access Card) (...FinanceISBN:9780357033609Author:Randall Billingsley, Lawrence J. Gitman, Michael D. JoehnkPublisher:Cengage Learning