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).
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).
