Jane and Vitorio are both professionals earning roughly $140 000 each annually.If one of them died and their debts were gone,the survivor could easily live on their own income.They have a combined net worth of $950 000.They have debts in the amount of a $250 000 mortgage and car loans of $85 000.In addition,they pay off their credit cards each month,usually around $21 000.If anything should happen to either one of them,they want to leave their family debt-free.How much life insurance should they consider?
A) They should each have a policy for $356 000.
B) None because their net worth is $950 000.
C) They should each have a policy for $475 000.
D) They should each have a policy for $335 000.
Correct Answer:
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