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FINANCIAL INFORMATION
Personal Insurance Factors


Life Insurance replaces a beneficiary's financial loss resulting from the insured's death. The underwriter estimates the amount of this loss at issue time using formulas as a guide. In most cases, the financial need is obvious. However, for cases involving large amounts, and for unusual situations, financial justification needs to be established.

Personal Insurance Formula
Age Factor times earned income
20-25
26-30
31-40
41-50
51-55
56-65
66 and up
up to 20
up to 30
up to 25
up to 20
up to 15
up to 10
up to 5