Question

Holly and matt want to use the "nonworking" spouse method to determine the amount of life insurance coverage they need. if their youngest child is 5 years old, how much do they need

Answer 1

The best answer for this question would be:

 

$150,000

 

Because in the method of the “non-working” spouse method, they are given a calculation of (18 - youngest child's age) × $10,000 (18 being the legal age)

 

Resulting that the solution would be:

 (18 - 3) × $10,000 = $150,000