Do you have trouble answering the question ” Most family heads need substantial amounts of life insurance. However, with limited income, money spent on life insurance reduces the amount of discretionary income available for other high-priority needs. What an insured person gives up when he or she purchases life insurance instead of using the premium dollars for other purposes is called the ” related to the concept of Life Insurance? There’s no need to worry about it anymore. This post contains the correct answer to your question.
Most family heads need substantial amounts of life insurance. However, with limited income, money spent on life insurance reduces the amount of discretionary income available for other high-priority needs. What an insured person gives up when he or she purchases life insurance instead of using the premium dollars for other purposes is called the
Options
- A) estimated cost of life insurance.
- B) net cost of life insurance.
- C) real (inflation-adjusted) cost of life insurance.
- D) opportunity cost of buying life insurance.
The Correct Answer Is:
D) Opportunity cost of buying life insurance.
Conclusion:
The answer to your question “Most family heads need substantial amounts of life insurance. However, with limited income, money spent on life insurance reduces the amount of discretionary income available for other high-priority needs. What an insured person gives up when he or she purchases life insurance instead of using the premium dollars for other purposes is called the” should now be clear to you.
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