Don and Diane Are Updating Their Financial Plan and Are

question 55

Essay

Don and Diane are updating their financial plan and are concerned that they might not have enough life insurance coverage for their family,which includes two children,ages 5 and 9.They have determined that their annual income is $65,000 and their net worth is now $150,000.Using the "nonworking" spouse method,calculate the amount of life insurance they should carry.

---

Definitions:

Politics

Activities associated with the governance of a country or area, especially the debate among individuals or parties hoping to achieve power.

Ambitious

Having a strong desire for success, achievement, or distinction, often coupled with a willingness to work hard.

Share Power

The practice of distributing authority and decision-making responsibility among members of a group or organization.

Own Power

The perception of one's ability to control or influence their own life and the outcomes within their personal or professional domain.