Life Insurance Exam [National] 22 – Needs Approach to Life Insurance Explained

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Life Insurance exam. In this episode you will learn: - The fundamental differences between the Needs Approach and the Human Life Value method. - How to identify the immediate cash needs of an estate including clearance funds and debt liquidation. - The critical definition of the Social Security blackout period and why it is a common exam trap. - The characteristics of the three survivor income periods known as readjustment, dependency, and retirement. - The distinction between the capital conservation and capital liquidation strategies for income replacement. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep