Hillary and Bill are married and have a young child.Both work,but Hillary earns a higher salary than Bill.Insurance experts suggest that:
A)there is no real need for this couple to have life insurance,since they both are employed.
B)the couple should take out equal amounts of life insurance for both Bill and Hillary.
C)the couple should take out life insurance on both Hillary and Bill,but coverage on Hillary should be greater than coverage on Bill.
D)the couple should take out a life insurance policy on their child,but do not need one on themselves.

Question

Quizplus · Accepted Answer

While both Hillary and Bill are employed, it is important to consider the difference in their salaries. If something were to happen to Hillary, the loss of her income would have a greater impact on the family's financial situation. Therefore, it is recommended for the couple to take out life insurance on both Hillary and Bill, but coverage on Hillary should be greater than coverage on Bill. It is not necessary to take out a life insurance policy on their child at this time.

Hillary and Bill Are Married and Have a Young Child