1. Discuss the role that insurance plays in the financial planning process. Why is it important to have enough life insurance? 2. Define (a) risk avoidance, (b) loss prevention, (c) loss control, (d)...

1. Discuss the role that insurance plays in the financial planning process. Why is it important to have enough life insurance?

2. Define (a) risk avoidance, (b) loss prevention, (c) loss control, (d) risk assumption, and (e) an insurance policy. Explain their interrelationships.

3. Explain the purpose of underwriting. What are some factors that underwriters consider when evaluating a life insurance application?