Sam's annual income is $60 000 and Jane is staying home looking after their children.If Sam died,they figure it would take $350000 invested at four percent to provide suitable income for the family for 15 years until the kids are more independent.They would also like to have $40000 set aside for university for his two children.Sam and Jane's total RRSP savings are $120000 .How much life insurance does he need using the budget method?

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The Answer of Sam's annual income is $60 000 and Jane is staying home looking after their children.If Sam died,they figure it would take $350000 invested at four percent to provide suitable income for the family for 15 years until the kids are more independent.They would also like to have $40000 set aside for university for his two children.Sam and Jane's total RRSP savings are $120000 .How much life insurance does he need using the budget method?

Sam's Annual Income Is $60 000 and Jane Is Staying