The primary objective of purchasing life insurance is to convert uncertainty that a person will be able to meet all financial obligations in the event of a possible misfortune into the certainty that these obligations will be fulfilled. (Note that a secondary objective of purchasing life insurance for many people is to also create savings)

As you have probably gathered from your readings, there are many choices when if comes to life insurance. Read about each of the following types of Life Insurance and list out what client characteristics (including things such as Age, Income , Level of Risk Aversion, Financial Competency, etc) would be best suited to each of the following insurance types and why. Consult Chapter 5 and the Additional Notes on Insurance posted to Canvas.

1) Term Life Insurance

2) Whole Life Insurance

3) Universal Life Insurance

4) Variable Life Insurance

5) Variable Universal Life Insurance

What life insurance type is most appealing to you and why?