Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fatima's life insurance coverage through her Qubec employer's group plan is 2 times her annual salary of $43,000.00. Her employer pays the insurer 100% of

Fatima's life insurance coverage through her Québec employer's group plan is 2 times her annual salary of $43,000.00. Her employer pays the insurer 100% of the cost of her life insurance coverage at a premium rate of $0.50 per $1,000.00 of coverage per month, which does not include tax. Calculate Fatima's monthly taxable benefit.

Step by Step Solution

3.44 Rating (151 Votes )

There are 3 Steps involved in it

Step: 1

The correct answer is 8720 The coverage amount of 8000000 is calculated by taking th... 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

Step: 3

blur-text-image

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

Principles Of Risk Management And Insurance

Authors: George E. Rejda, Michael McNamara

12th Edition

132992914, 978-0132992916

More Books

Students also viewed these Accounting questions

Question

provide a thorough insight into what job crafting really is;

Answered: 1 week ago

Question

What are bounds and what do companies do with them?

Answered: 1 week ago

Question

What are the annual contribution limits to an IRA?

Answered: 1 week ago

Question

Determine which location has the highest compositescore:

Answered: 1 week ago