Jhonny makes about the same salary ($75,000) that his wife makes with the bank. They are equal breadwinners, and contribute to caring for the home and rearing for their children Junior and Susie equally. Currently, Junior is 16 and Susie is 12 John ands wife realize that if one of them were to die, the family would not be able to maintain the same standard of living. They want to send Junior and Susie to college and have a comfortable retirement. They realize that they need life insurance and have come to you for help.

question 1. Use the Needs Approach to recommend an amount of life insurance for Chuck or Sally (same amount). Explain how you came up with your recommendation (state your assumptions). Be specific and descriptive.