The easy method of determining life insurance needs is based on the rule of thumb that a "typical family" will need about what percent of a wage-earner's salary for seven years?

Question

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The rule of thumb for determining life insurance needs suggests that a "typical family" will need about 70% of a wage-earner's salary for seven years to maintain their standard of living in the event of the wage-earner's death.

The Easy Method of Determining Life Insurance Needs Is Based