Principles of Finance Fin 101

Life Insurance Planning Activity Austria, James Anthony Garcia

1. Distinguish between the dying-too-soon problem and the living-too-long

problem and the best way to address each.
2. Distinguish the 2 (two) types of life insurance.
3. Distinguish among the owner, the insured, the beneficiary, and the
contingent beneficiary of a life insurance policy.
4. Identify the five settlement options for the payment of the proceeds of a
life insurance policy to its beneficiary.
5. Explain why designation of a minor as irrevocable beneficiary is highly
discouraged.