Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Christina Paun and Jason Parsons have a young daughter. Jasons salary is $48,000 p.a. and Christinas is $85,000. Jason's employer gives him life insurance for

Christina Paun and Jason Parsons have a young daughter. Jasons salary is $48,000 p.a. and Christinas is $85,000. Jason's employer gives him life insurance for 2X his salary as a benefit. Christina has a term life insurance policy of $250,000. Using the insurance agents simple income replacement method, how much more insurance should Christina buy? a. $166,500 b. $139,200 c. $188,500 d. None, because she has enough e. None, because Jason's salary could support him and their daughter

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Financial Management

Authors: Eugene F Brigham, Phillip R Daves

14th Edition

0357516664, 978-0357516669

More Books

Students also viewed these Finance questions

Question

What is the difference between a salary and a draw?

Answered: 1 week ago

Question

Describe ERP and how it can create efficiency within a business

Answered: 1 week ago