Using the _____ approach is the most accurate method to determine life insurance needs.
A) human life value
B) multiple earnings
C) risk assessment
D) economic identification
E) needs analysis

Question

Quizplus · Accepted Answer

The needs analysis approach takes into account factors such as current and future expenses, debts, income and assets to determine the appropriate amount of life insurance coverage needed. This approach is considered the most accurate because it addresses an individual's specific financial situation and needs. The other approaches (human life value, multiple earnings, risk assessment, and economic identification) may not consider all relevant factors or may be too general.

Using the _____ Approach Is the Most Accurate Method to Determine