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Amount of Insurance Needed. Marty and Mary have jobs and contribute to the household expenses according to their income. Marty contributes 7 5 % of
Amount of Insurance Needed.Marty and Mary have jobs and contribute to the household expenses according to their income. Marty contributes of the expenses and Mary contributes Currently, their household expenses are $ comma annually. Marty and Mary have three children. The youngest child is so they would like to ensure that they could maintain their current standard of living for at least the next eight years. They feel that the insurance proceeds could be invested at In addition to covering the annual expenses, they would like to make sure that each of their children has $ comma available for college. If Marty were to die, Mary would go back to school parttime to upgrade her training as a nurse. This would cost $ comma They have a mortgage on their home with a balance of $ comma How much life insurance should they purchase for Mary?
The amount of life insurance they should purchase for Mary is
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