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Marie and Joseph jointly purchased a home with an outstanding mortgage of $ 3 0 0 , 0 0 0 . With Joseph's income as

Marie and Joseph jointly purchased a home with an outstanding mortgage of
$300,000. With Joseph's income as a teacher and Marie's as a police officer,
the couple is able to make the monthly mortgage payments. However, if
either of them died, they are worried about how the surviving spouse would
pay the mortgage and support their children. In addition, the surviving spouse
would want to continue having life insurance coverage, even if his or her
health had deteriorated.
What type of insurance should their agent recommend?
Joint first-to-die policy with the option of keeping the same level of coverage on
the surviving spouse without having to provide proof of insurability.
Joint first-to-die policy with the option of keeping the same level of coverage on
the surviving spouse by providing proof of insurability.
A $300,000 policy either on Marie's or Joseph's life. The surviving spouse would
have to take out a new life insurance policy.
A $300,000 policy on the spouse with the biggest income.
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