1. How much life insurance do you need? (Base your calculations on the assumption that you have graduated from college and have a ‘real’ job.) Specify the details of your situation (married, kids, etc).
a. Calculate the amount of life insurance you should have using the human life value approach.
b. Calculate the amount of life insurance you should have using the needs approach.
c. What do YOU think is the correct amount of life insurance?
2. Find a life insurance policy that fits your needs. How much coverage? What is the premium?
a. What type of insurance is best for you?
b. Use GOOGLE to find policies and receive quotes.
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Question 1 a. Life insurance needed using the human life value
Estimate average yearly earning = $36,000
Amount of money to support family = 70/100 x $36,000 = $ 25,000...
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