Question $8(5$ points$)$

Beyonc$$ and Jay are considering purchasing a life insurance policy for Jay. Jay's current annual earnings are $$65,000$ and Beyonc$$ current annual earnings are $$72,000.$ If Jay should die, Beyonc$$ intends to continue to work and their children will receive Social Security survivor's benefit of around $$18,000$ annually for $14$ years $($until the youngest child turns $18).$ Jay has a $$80,000$ group policy at work and Beyonc$$ has a $$100,000$ group policy. They also have $$60,000$ investment assets. How much are their total available financial resources should Jay die $($up to the youngest child turns $18$ and ignore time value of money$)?$

$$392,000$

$$2,310,000$

$$1,302,000$

$$1,091,000$

$$1,400,000$