Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Christina Paun and Jason Parsons have a young daughter.Jason's salary is $48,000 p.a. and Christina's is $85,000.Jason's employer gives him life insurance for 2X his
Christina Paun and Jason Parsons have a young daughter.Jason's salary is $48,000 p.a. and Christina's 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 agent's simple income replacement method, how much more insurance should Christina buy?
a.
$139,200
b.
None, because Jason's salary could support him and their daughter.
c.
None, because she has enough
d.
$166,500
e.
$188,500
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started