Tim currently has $100,000 of term life insurance through his employer. Using the Needs-based Approach, calculate how

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Tim currently has $100,000 of term life insurance through his employer. Using the Needs-based Approach, calculate how much life insurance should Tim have. Does he have enough? If not, determine what type of life insurance and how much additional insurance he should buy. Assuming that term life insurance costs $1.00 (monthly) per $10,000 in coverage and whole life costs $3.00 per $10,000 in coverage, how much would Tim spend per month for additional life insurance

Posted Date: May 13, 2024 01:06 AM

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Tim currently has $100,000 of term life insurance through his employer. Using the Needs-based Approach, calculate how

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To calculate how much life insurance Tim should have using the Needsbased Approach we need to consider several factors such as Tims financial obligati... View the full answer

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