Jonathan estimates that financial resources worth $2,000,000 will be necessary to protect his family after his death. What amount of insurance, as per the needs analysis method, should Jonathan purchase if he has current financial resources worth $1,000,000?
A) $1,000,000
B) $2,000,000
C) $2,500,000
D) $1,500,000
E) $500,000

Question

Quizplus · Accepted Answer

Jonathan should purchase $1,000,000 in insurance to meet the estimated financial need of $2,000,000, considering he already has $1,000,000 in current financial resources.

Jonathan Estimates That Financial Resources Worth $2,000,000 Will Be Necessary