Jeff and Erica Have Two Children

question 60

Multiple Choice

Jeff and Erica have two children.They plan to purchase life insurance using this formula: (18 - Youngest child's age) × $10,000.Which method are they using to determine their life insurance needs?

• A) Easy method
• B) Dual income, no kids method
• C) Formal calculation method
• D) Nonworking spouse method
• E) Family needs method

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Definitions:

Tethers

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Fixed-income investments where an investor loans money to an entity (typically corporate or governmental) that borrows the funds for a defined period at a fixed interest rate.

Networking Group

A collective of individuals or organizations that come together to share information, resources, and support to enhance professional connections.

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Recommendations made by others, often based on personal experience or satisfaction, that direct someone to a particular service, product, or professional.