Attempting to determine how much insurance an individual would require base upon their financial objectives is known as:
a. viatical approach
b. needs approach
c. human life value approach
d. estate planning

B. Needs Approach. The needs approach to insurance is a method of understanding an individual's financial objectives and determining how much insurance might be necessary to help meet their needs. This approach takes into account an individual's income, current expenses, liabilities, family structure, and other factors to determine an appropriate amount of insurance. This approach is primarily used when insurance is part of an overall financial plan.