Using the "nonworking" spouse method, what should be the life insurance need for a family whose youngest child is 7 years old?
Multiple Choice
$55,000
$110,000
$90,000
$180,000
$220,000
Answer (1)
The life insurance need is $110,000Using the nonworking spouse method, the life insurance need is:$10,000 × (18 - 7)= $10,000 × 11= $110,000
