Kelly and Ken are meeting with an Insurance advisor and discussing their Needs for Life Insurance. Based on the following information that accounts for the immediate and short term goals associated with the death of Ken, as well as the monthly income needs following Ken's death. Calculate the amount of Insurance that is needed. Ken has $100,000 of Group Life Insurance. Expenses : Immediate and short-term goals Wishes / Needs What if Ken dies? Bequest to alumni 25,000 Final Expenses 15,000 Loans 20,000 Mortgage 80,000 Education fund 60,000 During the Life Insurance Needs Analysis it is determined that the monthly Income needs for Kelly (should Ken predecease her) would be $6,000. Kelly indicates that she thinks she could earn $4,500 monthly. When calculating any income gap for Kelly, and the impact on the recommendation for Life Insurance coverage please use an annual rate of return of 4%