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How much life insurance is required for a family whose primary wage earner currently has a term policy with a death benefit of $200,000 ?

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How much life insurance is required for a family whose primary wage earner currently has a term policy with a death benefit of $200,000 ? The annual ongoing income requirement for the family is $50,000. Assume a real interest rate of 4%. Select one: a. $1,050,000 b. $1,250,000 c. $1,500,000 d. $1,450,000

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