CA life and Health: Life Insurance Basics (2022/2023) with Verified Solutions

CA life and Health: Life Insurance Basics (2022/2023) with Verified Solutions A family's need for income is greatest during the Family Dependency Period Time after the insured has died, leaving a surviving spouse with dependent children to support. Which of the following would be least likely to be considered a legitimate need that would be paid by insurance proceeds? Vacation travel expenses THere are many legitimate need-based expenses that can be paid by life insurance proceeds, from groceries to retirement income. Vacation expenses are most likely to be considered a luxury and not a need. Which of the following is NOT a type of information that needs to be gathered in order to determine the value of someone's life when using the needs approach? A. Outstanding debt B. Mortgages C. Expenses