Question

James is looking into life insurance. He currently makes $50,000 a year and has two children, ages 15 and 11. How much coverage and how long a term of life insurance would you recommend to James?

Answer 1

Step-by-step explanation:

If James wants to cover both of his children at his current salary until they both can support themselves on their own, he would need a 10-year term policy (if the youngest moves out when he/she is 21) with a face value of $500,000 (current salary-$50,000*10 years).

Answer 2

Answer:

If James wants to cover both of his children at his current salary until they both can support themselves on their own, he would need a 10-year term policy (if the youngest moves out when he/she is 21) with a face value of $500,000 (current salary-$50,000*10 years).

Step-by-step explanation: