Bill Jones, age 30, is currently earning $55,000 per year net of tax. For estate planning purposes, he wants to ensure that his family maintains this level of income until his expected retirement at age 55. Assuming no other financial resources and no additional income, an annual after-tax return of 3%, and a payment is made at the beginning of each year, how much life insurance would Bill need now to meet this income requirement? 

Answer rating: 100% (QA)

To calculate how much life insurance Bill would need we can use the present ... View the full answer