Mike, aged 30. is single and works as a project manager at a local engineering firm, He recently purchased a $50,000 whole life insurance policy, which also has a guaranteed insurability rider that allows Mike to purchase additional insurance in $50,000 increments up to 5 times before he turns 45. Mlee's intention is to exercise this rider as it becomes affordable and name the local church as the beneficiary. How much life insurance could Mike own if he fully exercises his policy's guaranteed insurability rider?