Income Method. Nancy is a widow with two teenage children. Nancy's gross income is $3,700 per month, and taxes take about 11% of her income. Using the income method, Nancy calculates she will need to purchase about eight times her disposable income in life insurance to meet her needs. How much insurance should Nancy purchase? The amount of insurance Nancy should purchase is $ (Round to the nearest dollar.) Income Method. Nancy is a widow with two teenage children. Nancy's gross income is $3,700 per month, and taxes take about 11% of her income. Using the income method, Nancy calculates she will need to purchase about eight times her disposable income in life insurance to meet her needs. How much insurance should Nancy purchase? The amount of insurance Nancy should purchase is $ (Round to the nearest dollar.)