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Your client, Leon, is a 35 year old, single qualified engineer. He is considering taking out $1m in life insurance for a cost of

Your client, Leon, is a 35 year old, single qualified engineer. He is considering taking out $1m in life insurance for a cost of $1500 p.a.. He has come to you for advice as he is not sure if it's worth the cost. Explain to Leon the reasons for and against taking out life insurance. (4 marks)

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