Explain how a guaranteed insurability option works and why it is beneficial. Using Exhibit 12-2, determine the life expectancy of a 40-year-old male. You have a gross annual income of $52,000. Use the multiple of income method to determine the maximum amount of life insurance you should carry. You are the wage earner in a "typical family," with $60,000 gross annual income. Use the easy method to determine how much life insurance you should carry