The true statement for life insurance coverage is: "Life insurance policy amounts should factor in how much it would take to maintain the standard of living for the beneficiaries." This reflects the purpose of life insurance, which is to provide financial support to beneficiaries in the event of the policyholder's death, taking into account their current and future financial needs.
What statement is true for life insurance coverage? (1 point) Responses The policy only covers beneficiary's future needs; funeral costs should not be included in the policy amount. The policy only covers beneficiary's future needs; funeral costs should not be included in the policy amount. Debt is forgiven at death, so insurance policies do not need to cover this cost. Debt is forgiven at death, so insurance policies do not need to cover this cost. Life insurance policy amounts should factor in how much it would take to maintain the standard of living for the beneficiaries. Life insurance policy amounts should factor in how much it would take to maintain the standard of living for the beneficiaries. Generally speaking, $10,000 is the recommended amount for a life insurance policy.
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