Q1: Denis and Pathy are equal partners in their law firm. They have purchased an office building with a $200,000 mortgage for 15 years. Their tax liabilities are estimated to be $150,000 annually. The business is now worth $2,000,000 and is continuing to increase in value.

Which of the following is the best recommendation for Denis and Pathy to fund a by-sell agreement?

A. Joint term-to-100 insurance policy with a death benefit of $400,000.

B. Joint 10-year renewable and convertible term policy with a death benefit of $2,150,000.

C. Joint non-participating whole life policy with a death benefit of $2,000,000 on the lives.

D. Joint Universal Life insurance policy with death benefit of $1,000,000 and a 15-year term rider of $200,000.