You are a financial consultant who provide financial advice on a fee basis. A client comes to your office to get an appraisal of his financial situation. The client details are extracted and summarised in the application card as follow: Applicant's detail Name Lee Yeon Date of birth / Retirement Age 9th April 1982 / 60-year-old Marital status Married Dependant(s) / Child(ren) 2 children Annual Income RM89.500 p.a Spouse's details Name Nam Jia Date of birth / Retirement Age 11th July 1980 / 56-year-old Annual Income RM63,450 p.a Applicant's Investments and Insurance Details Fixed deposit RM165,000 Life insurance RM185,000 upon maturity Applicant's Needs Education fund for children RM80,000 per child Final burial expense RM20,000 Outstanding car loans RM64,000 Mortgage on house RM485,000; 40% of the outstanding amount has to be settled in full upon his sudden demise Safety net 70% out of annual income Inflation rate 4.25% p.a You are a financial consultant who provide financial advice on a fee basis. A client comes to your office to get an appraisal of his financial situation. The client details are extracted and summarised in the application card as follow: Applicant's detail Name Lee Yeon Date of birth / Retirement Age 9th April 1982 / 60-year-old Marital status Married Dependant(s) / Child(ren) 2 children Annual Income RM89.500 p.a Spouse's details Name Nam Jia Date of birth / Retirement Age 11th July 1980 / 56-year-old Annual Income RM63,450 p.a Applicant's Investments and Insurance Details Fixed deposit RM165,000 Life insurance RM185,000 upon maturity Applicant's Needs Education fund for children RM80,000 per child Final burial expense RM20,000 Outstanding car loans RM64,000 Mortgage on house RM485,000; 40% of the outstanding amount has to be settled in full upon his sudden demise Safety net 70% out of annual income Inflation rate 4.25% p.a