Life Insurance Basics
Which of these is a lump-sum need in a life insurance analysis?
Answer and explanation
Answer: B. Lump-sum needs are the amounts payable at or shortly after death, such as final expenses, debts, and a mortgage balance. Monthly income, ongoing living costs, and retirement income are income needs met over time rather than in a single sum.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, lump-sum needs
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