Life insurance for a single parent is critical. Protect your children. The good news is life insurance for most single parents is very inexpensive. Buy term life insurance with a 20-year term, multiply your annual income by 7 to 10 times to determine how much to buy but get what you can afford now. Compare premiums. Choose a beneficiary. Janette Raffa, a single mom, has two young children and wants to take out an additional $200,000 of 5-year term insurance. Janette is 41 years old. (Use Table 20.1.) (for females subtract 3 years from the table.) (Leave no cells blank - be certain to enter "0" wherever required.) a. What will be her additional annual premium? Additional annual premium b. In 3 years, what cash value will have been built up? Cash value TABLE 20-1 Five-year term Straight life Twenty-year endowment Age Age Twenty- payment life Age Age Life insurance rates for males (for females, subtract 3 years from the age) 20 1.85 20 5.90 20 8.28 20 13.85 21 21 6.13 21 21 14.35 1.85 1.85 8.61 8.91 22 22 6.35 22 22 14.92 23 1.85 23 6.60 23 9.23 23 15.54 24 24 6.85 24 24 16.05 1.85 1.85 9.56 9.91 25 25 7.13 25 25 17.55 26 1.85 26 7.43 26 10.29 26 17.66 27 1.86 27 7.75 27 10.70 27 18.33 28 1.86 28 28 28 19.12 11.12 1 1.58 29 1.87 8.08 8.46 8.85 29 29 29 20.00 30 1.87 30 30 12.05 30 20.90 31 1.87 31 9.27 31 12.57 31 21.88 22.89 32 1.88 32 9.71 32 13.10 32 33 1.95 33 10.20 33 13.67 33 23.98 34 2.08 34 34 14.28 34 25.13 10.71 11.26 35 2.23 35 35 14.92 35 26.35 36 2.44 36 11.84 36 15.60 36 27.64 37 2.67 37 12.46 37 16.30 37 28.97 38 38 38 17.04 38 30.38 2.95 3.24 13.12 13.81 39 39 39 17.81 39 31.84 40 3.52 40 14.54 40 18.61 40 33.36 41 3.79 41 15.30 41 19.44 41 34.94 42 4.04 42 16.11 42 20.31 42 36.59 43 4.26 43 16.96 43 21.21 43 38.29 44 4.50 44 17.86 44 22.15 44 40.09