The human life approach will generally result in a larger need for the insurance for younger people as compared to older people. True False QUESTION 32 The needs approach for determining the appropriate amount of life insurance to purchase considers all of the relevant costs that a family will have after the death of the insured except an estate True False QUESTION 33 The owner of a term life insurance policy shifts the financial risk of death for the current year to the insurance company in return for the annual premium. True False QUESTION 34 The mortality risk of a term ife insurance policy increases each year, True