Family Need Method

Johana and her spouse are in good health and have reasonably secure careers. She makes about $$65,000$ annually and has opted for life insurance coverage of three times her salary through her employer. One of her most important financial goals involves building an education fund of $$80,000$ to cover the cost of a four$-$year university program for her two children ages $2$ and $4.$ To date, she has accumulated $$15,000$ toward this goal in an RESP. Johana owns a home with a $$280,000$ remaining mortgage balance. Other debts include a $$10,000$ car loan, $$5,000$ student loan, and $$3,000$ charged to credit cards. In the event of her death, Johana wishes to leave her