Title: Distinguish among the types, costs, and benefits of life insurance.
Course: Economics and Personal Finance (19262-I) > Section: Demonstrating Knowledge of the Role of Insurance in Risk Management

Distinguishing among the major types, costs, and benefits of life insurance coverage should include

- an explanation of temporary insurance (term, decreasing term, level term, and credit life)
- an explanation of permanent insurance (straight life, limited-pay, universal, and variable)
- an explanation of endowment vs. annuity policies.

It should also include

- comparing the costs and benefits of additional coverage
- using a decision model to compare policies offered by different companies
- examining potential ramifications of lifestyle choices on premiums, insurability, and employability.