1. What is the purpose of life insurance? Define the terms face amount, beneficiary, life insured, and policy owner.

2. Do you think that everyone needs health and/or life insurance? Explain.

3. With respect to financial goals, what is the difference between health and life insurance?

4. What is Medicare? How is the health care system in Canada financed?

5. What are the differences between creditor insurance and personally owned term insurance?

6. Describe the income method of determining the amount of life insurance needed. What is the disadvantage of this method?

7. Explain what happens if you misstate your age or sex.