Additional Life Insurance Case Study

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Jeff and Ann should invest in additional life insurance. Jeff is young and may eventually change jobs, therefore the insurance he currently has, would no longer be effective. An extra benefit of full-time employment is job offered life insurance. Consequently, if he loses his benefits, he loses his life insurance. I feel individuals should always purchase life insurance outside of their employment. In essence, self-purchased life insurance, guarantees benefits will be there regardless of a change in employment.
First, we must calculate the amount of coverage needed. Since we have, no assets or liabilities listed to use in the dollar value calculation of coverage, we could choose between the easy method and the “non-working” spouse method.
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