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.