The Mr. and Mrs. L recently had a baby and are concerned about the life insurance needs. S has $5,000 of coverage and ML has life insurance coverage equal to approximately six times his annual salary. They need help to determine appropriate life insurance amount for their family. Characters in the case: S and ML. Adequate information: Given, Monthly gross income is $4,600. Living expenses is $3,500. Assets are $182,000. Liabilities are $ 118,000. To determine: Four general methods to estimate the amount of life insurance for the L’s family.

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Answer 1

Question

Chapter 12, Problem 1CC

Summary Introduction

Case summary:

The Mr. and Mrs. L recently had a baby and are concerned about the life insurance needs. S has $5,000 of coverage and ML has life insurance coverage equal to approximately six times his annual salary. They need help to determine appropriate life insurance amount for their family.

Characters in the case: S and ML.

Adequate information:

Given,

Monthly gross income is $4,600.

Living expenses is $3,500.

Assets are $182,000.

Liabilities are $ 118,000.

To determine:

Four general methods to estimate the amount of life insurance for the L’s family.

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Answer 2

Question

Chapter 12, Problem 1CC

Summary Introduction

Case summary:

The Mr. and Mrs. L recently had a baby and are concerned about the life insurance needs. S has $5,000 of coverage and ML has life insurance coverage equal to approximately six times his annual salary. They need help to determine appropriate life insurance amount for their family.

Characters in the case: S and ML.

Adequate information:

Given,

Monthly gross income is $4,600.

Living expenses is $3,500.

Assets are $182,000.

Liabilities are $ 118,000.

To determine:

Four general methods to estimate the amount of life insurance for the L’s family.

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Answer 3

Question

Chapter 12, Problem 1CC

Summary Introduction

Case summary:

The Mr. and Mrs. L recently had a baby and are concerned about the life insurance needs. S has $5,000 of coverage and ML has life insurance coverage equal to approximately six times his annual salary. They need help to determine appropriate life insurance amount for their family.

Characters in the case: S and ML.

Adequate information:

Given,

Monthly gross income is $4,600.

Living expenses is $3,500.

Assets are $182,000.

Liabilities are $ 118,000.

To determine:

Four general methods to estimate the amount of life insurance for the L’s family.

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Answer 4

Question

Chapter 12, Problem 1CC

Summary Introduction

Case summary:

The Mr. and Mrs. L recently had a baby and are concerned about the life insurance needs. S has $5,000 of coverage and ML has life insurance coverage equal to approximately six times his annual salary. They need help to determine appropriate life insurance amount for their family.

Characters in the case: S and ML.

Adequate information:

Given,

Monthly gross income is $4,600.

Living expenses is $3,500.

Assets are $182,000.

Liabilities are $ 118,000.

To determine:

Four general methods to estimate the amount of life insurance for the L’s family.

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Answer 5

Chapter 12, Problem 1CC

Summary Introduction

Case summary:

The Mr. and Mrs. L recently had a baby and are concerned about the life insurance needs. S has $5,000 of coverage and ML has life insurance coverage equal to approximately six times his annual salary. They need help to determine appropriate life insurance amount for their family.

Characters in the case: S and ML.

Adequate information:

Given,

Monthly gross income is $4,600.

Living expenses is $3,500.

Assets are $182,000.

Liabilities are $ 118,000.

To determine:

Four general methods to estimate the amount of life insurance for the L’s family.

Answer 6

Chapter 12, Problem 1CC

Summary Introduction

Case summary:

The Mr. and Mrs. L recently had a baby and are concerned about the life insurance needs. S has $5,000 of coverage and ML has life insurance coverage equal to approximately six times his annual salary. They need help to determine appropriate life insurance amount for their family.

Characters in the case: S and ML.

Adequate information:

Given,

Monthly gross income is $4,600.

Living expenses is $3,500.

Assets are $182,000.

Liabilities are $ 118,000.

To determine:

Four general methods to estimate the amount of life insurance for the L’s family.

Answer 7

Chapter 12, Problem 1CC

Summary Introduction

Case summary:

The Mr. and Mrs. L recently had a baby and are concerned about the life insurance needs. S has $5,000 of coverage and ML has life insurance coverage equal to approximately six times his annual salary. They need help to determine appropriate life insurance amount for their family.

Characters in the case: S and ML.

Adequate information:

Given,

Monthly gross income is $4,600.

Living expenses is $3,500.

Assets are $182,000.

Liabilities are $ 118,000.

To determine:

Four general methods to estimate the amount of life insurance for the L’s family.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 12 - Prob. 12.1PQ1 Ch. 12 - Prob. 12.1PQ2 Ch. 12 - What is the principle of life insurance?Ch. 12 - Prob. 12.1PQ4 Ch. 12 - Prob. 12.2PQ1 Ch. 12 - Prob. 12.2PQ2 Ch. 12 - Prob. 12.2PQ3 Ch. 12 - Prob. 12.3PQ1 Ch. 12 - Prob. 12.3PQ2 Ch. 12 - Prob. 12.3PQ3

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