Charles and Ann live in a house that they purchased four years ago. It is a large Victorian-era home with 12 rooms and cost them $250,000 at the time

Charles has life insurance three times his salary (salary - $81,000) from the college, and Ann has life insurance through her employer for twice her salary(salary - $40,000). Charles and Ann each purchased five-year term individual insurance policies from a local insurance broker when they purchased the house, with a face value of $250,000.

Questions

• Explain their current situation regarding insurance
• Do they have enough insurance in place?
• How much insurance do they need include insurance needs analysis