You have a gross annual income of $63,500. Use the multiple of income method to determine the minimum amount of life insurance you should carry.
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Q: > Answer is complete but not entirely correct. Minimum insurance need $ 437,500 x
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- You have a gross annual income of $62,500. Use the multiple of income method to determine the minimum amount of life insurance you should carry. Answer is complete but not entirely correct. Minimum insurance need $ 437,500 xYou are the wage earner in a "typical family," with $28,000 gross annual income. Use the easy method to determine how much life insurance you should carry. (Do not round intermediate calculations.) Life insurance needAssume that you have calculated: (a) premiums for life insurance policies and (b) payments to annuitants based upon an assumption that everybody dies before attaining age 101. Now you discover that a significant number of your policy owners are likely to live beyond age 101 and some will live to age 121. How will that affect your business?
- You are the sole wage earner in a "typical family," with $102,000 gross annual income. Use the income replacement method to determine how much life insurance you should carry. (Omit the "$" sign In your response.) Value of Insurance $9. Define out of pocket maximum. a. A flat-rate fee you must pay when receiving any kind of health care service. b. The maximum amount of money your insurance will cover of a certain health care service. c. The maximum amount you will have to pay out of pocket in one year for the benefits your insurance covers. d. The maximum amount of money the insured party will pay toward prescription medications.Identify which one of the following type of life insurance provides a source of regular income to the assured or to his/her dependents after the expiry of a specified period? a. With profit policy b. Term life policy c. Annuity d. Whole life policy
- A 125. Subject:- financeWhat are some factors that go into calculating life insurance for a client? 0 ☐ Current life insurance death benefit amount (s) if any survivor income and resources Expenses to cover Life expectancy of survivor Life expectancy of contingent beneficiaryYou are the wage earner in a "typical family," with $60,000 gross annual income. Use the easy method to determine how much life insurance you should carry. O 60,000 O 120,000 294,000 420,000
