2.01 Lifestyle Conditions. Students will understand lifestyle conditions and typical incomes, needs, and expenses at various stages of life. NOTE: When questions are asked on the PPT, use the class notes page for this objective to answer the questions. ESSENTIAL QUESTIONS:.
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Students will understand lifestyle conditions and typical incomes, needs, and expenses at various stages of life.
NOTE: When questions are asked on the PPT, use the class notes page for this objective to answer the questions.
Life Insurance professionals recognize the affect of life stages for insurance protection. Life Insurance protection is based on individual needs, incomes, and expenses.
Young & single - less coverage needed
Just married – May need more especially if purchasing home, etc.
New parents - need life insurance to protect financial future of dependent children
Planning for Retirement – long term planning and estate planning goals reviewed and revised
What is your family’s lifestyle conditions?
How have these conditions affected your family’s economic and financial status.?
Income -Compensation received from work (salary, commission, hourly wage), investing, inheritance
Things required in order to live
Things that add comfort & pleasure to your life
How do you as a consumer satisfy your wants and needs?