Amount of Life Insurance Assignment

Life insurance needs for a young married couple. Veronica and Lars have been together for five years. They recently bought a home costing $110,000 using an $88,000 mortgage. They have no other debts. Lars earns $33,750 per year, and Veronica earns $39,570. Each has a retirement plan valued at approximately $18,500. Their only life insurance currently is employer-sponsored term life insurance which covers each of them at double their salary amount. They each would like to provide the other with support for at least five years if one of them should die.

  • Assuming $13,125 in final expenses and $44,000 to help with mortgage debt, calculate the amount of life insurance they should purchase using the needs-based approach. (10 points)
Veronica $39,570 Lars $33,750
Final expense needs
Income replacement needs N = 5

I/Y = 7.63

PV = CPT

PMT = 39,570 x 0.75 =

FV = 0

N = 5

I/Y = 7.63

PV = CPT

PMT = 33,750 x 0.75 =

FV = 0

Readjustment period needs
Debt-repayment needs
College-expense needs
Other special needs
Subtotal
Government benefits
Current insurance assets
Life insurance needed

Get Finance homework help today

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Australia Assessments
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Business and administrative studies
Excellent
Customer 460073, July 2nd, 2022
Business and administrative studies
The paper met the expectation. Thanks!
Customer 463143, September 7th, 2022
Military
Great effort.
Customer 456821, May 11th, 2022
Management
Thank you! Yes I did receive my paper on time. Thank you for all the help.
Customer 453975, February 3rd, 2020
Business and administrative studies
Excellent.
Customer 459947, April 6th, 2022
Psychology
Good discussion.
Customer 462359, April 4th, 2022
Other
Great work.
Customer 462927, May 24th, 2022
Nursing
Awesome job, thanks for the quality work!!!
Customer 453939, February 15th, 2020
Commitment Statement for Canberra - Subclass 491 Offshore Visa
Thank you so much for all your help and support. Thank you writer for all your efforts and great work. Thank you all once again.
Customer 455757, January 29th, 2022
GOVT 200
Plagiarism issue noted.
Customer 454799, July 11th, 2022
History
Great!
Customer 453413, February 27th, 2020
LIFE SPAN DEVELOPMENT
Satisfactory.
Customer 462623, April 15th, 2022
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat