4: Blake and Carolyn are empty-nesters in their early 50s. Carolyn runs the pediatric nurses at a local hospital earning $150,000 a year and Blake works with an investment firm earning $200,000 annually. They have excellent health care coverage from Carolyn's work. They have $600,000 in retirement savings, $50,000 in college debt (kids), and owe $100,000 on their home. Both enjoy their work and will work until their full retirement age (FRA) of 67. Blake currently has $1m of term life insurance and Carolyn has $500,000 of term life insurance. Carolyn's parents are not in good health and Blake's parents have both passed. Carolyn's parents will most likely need medical assistance in the future with limited means to pay for it. It could be likely that she would have to assist due to her other siblings living out of town.

-Explain how you (the financial planner) would position the applicable and needed insurance solutions to fit both the client's budget and needs.

-Explain why and how you came up with your proposed solution.

-Use real-time experiences (if applicable) to explain past solutions.