Jack and Diane are a married couple in their late 40s. After discussing their financial situation...

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Jack and Diane are a married couple in their late 40s. After discussing their financial situation with their accountant, financial planner and life insurance agent they have decided that should Jack die. Diane would continue to work until she retires. Diane would also like to have half of their combined income so that she could maintain her current lifestyle. Given that Jack makes $150,000 per year. Diane earns $60.000 per year, and they want their insurance agent to use a rate of return of 5% using the capital retention method, how much coverage will jack require now? Jack and Diane are a married couple in their late 40s. After discussing their financial situation with their accountant, financial planner and life insurance agent they have decided that should Jack die. Diane would continue to work until she retires. Diane would also like to have half of their combined income so that she could maintain her current lifestyle. Given that Jack makes $150,000 per year. Diane earns $60.000 per year, and they want their insurance agent to use a rate of return of 5% using the capital retention method, how much coverage will jack require now?

Answer rating: 100% (QA)

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