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Paolo and Maria Rossi are 38 years old and have one son, age 9 . Paolo is the primary earner, making $140,000 per year. Maria
Paolo and Maria Rossi are 38 years old and have one son, age 9 . Paolo is the primary earner, making $140,000 per year. Maria does not currently work. The Rossis have decided to use the needs analysis method to calculate the value of a life insurance policy that would provide for Maria and their son in the event of Paolo's death. Paolo and Maria estimate that while their son is still living at home, monthly living expenses for Maria and their child will be about $4,000 (in current dollars). After their son leaves for college in 9 years, Maria will need a monthly income of $3,300 until she retires at age 65 . The Rossis estimate Maria's living expenses after 65 will only be $2,900 a month. The life expectancy of a woman Maria's age is 87 years, so the Rossi family calculates that Maria will spend about 22 years in retirement. Using this information, complete the first portion of the needs analysis worksheet to estimate their total wing expenses
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