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 $300,000 of 5-year term insurance. Janette is 40 years old. (Use Table 20.1.) (for females subtract 3 years from the table.) (Leave no cells blank - be certain to enter "O" 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