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apters 8 & 9 Bank accounts Term deposits (3 months) TFSA High Interest Savings Stock investment account RRSPS $ You and your spouse are in

apters 8 & 9 Bank accounts Term deposits (3 months) TFSA High Interest Savings Stock investment account RRSPS $ You and your spouse are in good health and have reasonably secure careers. You make about $77,000 annually and have opted for life insurance coverage of three times your salary through your employer. With your spouse's income, you are able to absorb ongoing living costs of $57,000 a year. You own a home with a $292,000 mortgage. Other debts include a $16,000 car loan, $7,400 student loan, and $4,200 charged to credit cards. In the event of your death, you wish to leave your family debt-free. One of your most important financial goals involves building an education fund of $104,000 to cover the costs of a four-year university program for each of your two children ages two and four. To date, you have accumulated $27,000 toward this goal in an RESP. Should you die, your beneficiaries would receive a $2,500 death benefit lump-sum payment from the Canada Pension Plan. You also have $37,000 in your company pension plan. Average funeral expenses are $13,000. Your other financial assets are as follows: 3,300 4,200 2,200 3,700 10,500 Saved Help $ Save & Exit Use the family-need method to determine your life insurance needs. Dependents need 3 years of income as living expense. Assume that there is a desire to have a 3 month reserve based on their annual income. (Omit the "$" sign in your response.) Additional life insurance needs Submit
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You and your spouse are in good health and have reasonably secure careers. You make about $77,000 annually and have opted for ife insurance coverage of three times your salary through vour emplover. With vour spouse s income, you are able to absorb ongoing living costs of $57000 a year. You own a home with a $292.000 mortgage Other debts include a $16,000 car loan, $7.400 student loan, and $4,200 charged to credic cards: In the event of your death, you wish to leave your family debt-free. One of your most important financial gosls imvolves building an education fund of $104,000 to cover the costs of a four-year university program for each of your two childten ages two and four To date, you have accumutated $27,000 toward this goal in an RiESP 5 houtd you die, your company pension plan Average funerat expenses are 513,000 . Your other financlal assets are as follows: Whe the family need method to detemine your life insurance needs. Dependents need 3 yeais of income as living expense. Assume that there is a desire to have a 3 month reserve based on their annual income. (Omit the "s" sign in your response) Addaionalide insurance needs You and your spouse are in good health and have reasonably secure careers. You make about $77,000 annually and have opted for ife insurance coverage of three times your salary through vour emplover. With vour spouse s income, you are able to absorb ongoing living costs of $57000 a year. You own a home with a $292.000 mortgage Other debts include a $16,000 car loan, $7.400 student loan, and $4,200 charged to credic cards: In the event of your death, you wish to leave your family debt-free. One of your most important financial gosls imvolves building an education fund of $104,000 to cover the costs of a four-year university program for each of your two childten ages two and four To date, you have accumutated $27,000 toward this goal in an RiESP 5 houtd you die, your company pension plan Average funerat expenses are 513,000 . Your other financlal assets are as follows: Whe the family need method to detemine your life insurance needs. Dependents need 3 yeais of income as living expense. Assume that there is a desire to have a 3 month reserve based on their annual income. (Omit the "s" sign in your response) Addaionalide insurance needs

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