Ontario residents John and Mary are meeting with an insurance agent to

discuss their life insurance needs. During the conversation, they mention that

they have one daughter, Jessica. The main concern that the couple has is the

tax liability on their income property: they don't want Jessica to be stuck with

the bill once they're gone. They are also worried about probate costs. Their

funeral expenses are pre$-$paid, so this is not an issue.

What can the insurance agent recommend given his clients' concerns?

A joint first$-$to$-$die policy for John and Mary, with Jessica as the beneficiary.

A joint first$-$to$-$die policy for John and Mary, with the estate as the beneficiary.

A joint last$-$to$-$die policy for John and Mary, with Jessica as the beneficiary.

A joint last$-$to$-$die policy for John and Mary, with the estate as the beneficiary.