please andwer part (D)

Marcel and TJ have been married for 35 years. Both are in great health, but they feel it is time that they start planning for their future health needs. Marcel is 60 years old, and TJ is 61 years old. They have been approached by a long-term care insurance salesperson who is offering the following insurance product: - Annual maximum benefit: $60,000 or 80% of annual cost, whichever is less. - Daily maximum benefit: $167 or 80% of daily cost, whichever is less. - Billing cycle: 360 days. - Premium for policy with 180-day elimination period: $2.900. - Premium for policy with 90 -day climination period: $3,300. - Premium for policy with 30-day elimination period $3,800, Marcel and TJ are interested in possibly purchasing one of these policies Use the following information to help them analyze which policy may be the best alternative. - The current annual cost of a good nursing care facility in their area is $72,000. - They have $25,000 saved in a money market savinus account, $10,000 in a 1-year CD, and $12,000 in EE savings bonds. Analyze each of the options. How much will they need to pay before benefits begin if Marcel purchased a policy today and needed long-term care services this year? Show your estimate for each elimination period. How much will they pay in total premiums if Marcel purchases a policy today and begins using the policy at age 72 ? Calculate an estimate for each elimination period. If Marcel purchases the policy with a 180-day elimination period, how much will they receive as a benefit in his first year in a nursing home facility (assume an annual cost of $72,000 )? If the annual cost does not increase, how much will they receive in benefits in the second year? First vear Second year If they do not buy a long-term care insurance policy and assuming that the annual cost of services remains stable at $72,000 per year, how much will they need to save over the next 12 years, earning a 7% annual rate of return, in order to cover 100% of the cost of nursing home care if Marcel receives 3 years of service? (Round answer to 0 decimal places, eg. 5, 125.) They need to save $