Question

Shaan and Anita are married and have two children, ages 4 and 6. Anita is a “nonworking” spouse who devotes all of her time to household activities. Estimate how much life insurance Shaan and Anita should carry.

Answer 1

$140,000 of life insurance.

Step-by-step explanation:

According to my research, in order to calculate an Estimate of how much life insurance Saan and Anita should carry (using the nonworking spouse method), you need to calculate the amount of years left for the youngest child to hit 18. Once you have this number you multiply it by $10,000 to calculate the Estimate.

`18-4 = 14.years`

`14.years * 10,000 = 140,000`

Therefore, Shaan and Anita should carry approximately $140,000 of life insurance.