What does Life Insurance Adequacy mean? Read on to discover the definition & meaning of the term Life Insurance Adequacy - to help you better understand the language used in insurance policies.
Life Insurance Adequacy
Life insurance adequacy refers to whether a certain party has sufficient life insurance coverage to prevent them from suffering significant economic losses in case someone of importance to them dies. This concept is highly relevant for people who are dependent upon the income of their spouses to economically sustain themselves and their family.
We hope the you have a better understanding of the meaning of Life Insurance Adequacy.