Dan and Mary (both age 42) are married and have three children ages 4, 9, and 16. Dan's income from employment is $165,000 and Mary's income (currently part time) is $45,000. Their budget is currently balanced and includes adequate savings for the children's education and their retirement. Social Security will provide either spouse with an annual income of $30,000 at retirement (age 67) or in the event of death or total disability. The death benefit will provide $10,000 ($30,000 in total) annual income for each child until the child is age 19. The 4 year old is currently in day care and the cost of $12,000 per year is included in their current budget. The 4 year old will go to kindergarten next year and there will be no day care at that time and Mary will go work full time and her earnings will increase to $92,000 annually. Household expenses will decrease by $12,000 at a family members death and when a child graduates from college at age 22. Current investment rates are 4% before tax and the family is in the 28% marginal tax bracket. The expected inflation rate is 2.25%. Social Security, income and expenses will increase by the inflation rate. What amount of insurance do they need to purchase on Dans life?