What factor should be prioritized when determining the amount of term insurance coverage needed? Option: "The policy's potential return", "Financial obligations and dependents' needs", "Investment portfolio size", "Current income level"

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What factor should be prioritized when determining the amount of term insurance coverage needed?

"The policy's potential return"

"Financial obligations and dependents' needs"

"Investment portfolio size"

"Current income level"

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How does term insurance help families?

It helps families maintain their lifestyle without financial worry in case of the policyholder's death.

It covers education expenses for children.

It offers investment options to grow family wealth.

It provides a source of income for surviving family members.

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What type of insurance is highly recommended for new employees?

"Term life insurance"

"Home insurance"

"Auto insurance"

"Travel insurance"

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What is a key consideration when selecting the coverage amount for a health insurance plan?

Estimating potential future healthcare needs

Prioritizing short-term cost savings

Relying on government-provided coverage

Focusing solely on current health status

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What is the fundamental purpose of term insurance as a financial product?

"To provide retirement savings"

"To mitigate the financial risk of premature death"

"To generate investment income"

"To cover property damage and liability"

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What are the two essential types of insurance emphasized in the text?

Liability insurance and disability insurance

Life insurance and auto insurance

Health insurance and home insurance

Term insurance and health insurance