Janet and Sam Zhou are 52 years old and have one son, age 14. Janet is the primary earner, making $80,000 per year. Sam does not currently work. The Zhous have decided to use the needs analysis method to calculate the value of a life insurance policy that would provide for Sam and their son in the event of Janet's death. dollars). After their son leaves for college in 4 years, Sam will need a monthly income of $2,750 until he reses atires spend about 17 years in retirement. Using this information, complete the first portion of the needs analysis worksheet to extimate their to Life Insurance Needs Analysis Worksheet In addition to these monthly expenses, other future outlays must be accounted for. Before they had a child, Sam worked as a real estate agent, but to create a college fund of $30,000 to fund their child's college education. They estimate that final expenses (funeral costs and estate taxes in amount to $12,000. Finally, they have taken out a loan for home improvements of $130,000 and an automobile loan of $5,000. They owne the but still have an outstanding mortgage of $300,000. The second half of the needs analysis worksheet is not shown on this page. To complete the worksheet and determine the value of the lifersure policy the Zhous should purchase, they need to factor in additional information. True or False: Sam's annual Social Security benefit should be accounted for in the remaining portion of the form. True False Janet and Sam Zhou are 52 years old and have one son, age 14. Janet is the primary earner, making $80,000 per year. Sam does not currently work. The Zhous have decided to use the needs analysis method to calculate the value of a life insurance policy that would provide for Sam and their son in the event of Janet's death. dollars). After their son leaves for college in 4 years, Sam will need a monthly income of $2,750 until he reses atires spend about 17 years in retirement. Using this information, complete the first portion of the needs analysis worksheet to extimate their to Life Insurance Needs Analysis Worksheet In addition to these monthly expenses, other future outlays must be accounted for. Before they had a child, Sam worked as a real estate agent, but to create a college fund of $30,000 to fund their child's college education. They estimate that final expenses (funeral costs and estate taxes in amount to $12,000. Finally, they have taken out a loan for home improvements of $130,000 and an automobile loan of $5,000. They owne the but still have an outstanding mortgage of $300,000. The second half of the needs analysis worksheet is not shown on this page. To complete the worksheet and determine the value of the lifersure policy the Zhous should purchase, they need to factor in additional information. True or False: Sam's annual Social Security benefit should be accounted for in the remaining portion of the form. True False
