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In: Economics

1. All of the following are steps in evaluating life insurance needs based on the expense...

1. All of the following are steps in evaluating life insurance needs based on the expense approach EXCEPT: a)a pay off amount of any debts b)estimating the economic value of home production done by the insured family member c)Social Security survivor's benefits d)the potential for their children or surviving spouse to pick up some of the "economic slack" by earning additional incomed)

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Expert Solution

d)the potential for their children or surviving spouse to pick up some of the "economic slack" by earning additional incomed.

This particular step indicates just economic welfare and earning higher income for the household. As, the family is going to pick some economic slack which means his children and wife are potential workers who were not working but now are going to pick up jobs.

Rahul Sunny answered 2 years ago
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