Dominic and Magalie have been married for five years and have thes children, aged four, seven and nine. Dominic and Magale are diverong and Magalie has been ordered to pay child support, until the youngest reaches age 20. The court has specified her monthly obligation to be $2,000. What type of insurance provides the most cost-effective solution and how much insurance is needed? Whole life insurance with coverage of $600,000. Term-to-100 with coverage of $600,000. 25-year term life insurance with coverage of $480,000. 20-year term life insurance with coverage of $480,000

Answer rating: 100% (QA)

To determine the most costeffective insurance solution we need to consider various factors such as the duration of support payments the cost of insura... View the full answer