Question

In: Finance

Billly and Carolyn are married and have two small children. Billys occupation is a potentially dangerous...

Billly and Carolyn are married and have two small children. Billys occupation is a potentially dangerous on and his agent pointed out that the monthly premiums will be high. Billy and Carolyn want a log of insurance overage for their money. They could take advantage of a____________________ life insurance at this time to save money

A)Credit

B)Term

C)Whole

D)Universal

E)Variable

Solutions

Expert Solution

Answer: Term life insurance.

It has lower premium during the selected term.
It has guaranteed protection for a set time period.

As Billy and Carolyn are primarily looking at this time to save money.

They could take advantage of a term life insurance due to its lower premium.

jeff jeffy answered 2 years ago
Next > < Previous

Related Solutions

Elijah and Anastasia are married and have two married children and two minor grandchildren. For 2020,...
Elijah and Anastasia are married and have two married children and two minor grandchildren. For 2020, what is the maximum amount they can give to their family (including the sons- and daughters-in-law) without using any of their unified transfer tax credit? $
1-Scenario: You are 26 years old, married, and have two small children. You have a household...
1-Scenario: You are 26 years old, married, and have two small children. You have a household income (take-home pay) of $3,500 per month and currently rent your home. You have and pay many bills, and make many purchases (usually by debit card) each month. You often lose track of spending and end up paying unnecessary bank fees. You would like to buy a new car in five months and a new home in two years. To avoid overdrafts, you chose...
Tim and Allison are married and have two children, ages 12 and 14. Allison is a...
Tim and Allison are married and have two children, ages 12 and 14. Allison is a "nonworking" spouse who devotes all of her time to household activities. Estimate how much life insurance Tim and Allison should carry to cover Allison. Life insurance need:
Barb and Barney are married and file a joint return. They have two children, Lulu and...
Barb and Barney are married and file a joint return. They have two children, Lulu and Zoe, that live at home and whom they fully support. Lulu is 9 and Zoe is 13 years old. In order for Barb and Barney to both work, they pay care providers to take care of Lulu and Zoe after school. The total care cost for the year were: Lulu $4,800, and Zoe $3,800. During the year Barb earned salary of $24,500 and Barney...
During 2019, Richard and Denisa, who are married and have two dependent children, have the following...
During 2019, Richard and Denisa, who are married and have two dependent children, have the following income and losses: Total salaries                                                         $150,000 Bank account interest                                                25,000 Dividend income                                                         5,000 Short-term capital gains                                              4,000 Short-term capital losses                                           (1,500) They also incurred the following expenses: Qualified medical expenses                                     $ 8,000 State income taxes paid                                             12,000 Property taxes on home                                               2,300 Qualified residence interest                                         9,000 Investment interest expense                                        7,500 Cash charitable contributions                                    15,000 a. Compute Richard and Denisa’s taxable income for the year....
During 2019, Richard and Denisa, who are married and have two dependent children, have the following...
During 2019, Richard and Denisa, who are married and have two dependent children, have the following income and losses: Total salaries $150,000 Bank account interest 25,000 Dividend income 5,000 Short-term capital gains 4,000 Short-term capital losses (1,500) They also incurred the following expenses: Qualified medical expenses $ 8,000 State income taxes paid 12,000 Property taxes on home 2,300 Qualified residence interest 9,000 Investment interest expense 7,500 Cash charitable contributions 15,000 a. Compute Richard and Denisa’s taxable income for the year....
Kyle and Tess Water are married, file a joint return, and have two dependent children in...
Kyle and Tess Water are married, file a joint return, and have two dependent children in college, Luke and Taylor. Luke attends a State University in a neighboring state, and Taylor attends a State University in their home state. Neither receives any type of financial assistance. The Water modified AGI in 2017 is $119,000. The children's classifications and expenses are as follows: Spring Semester (paid in January 2017) (paid in July 2017) Luke: Senior Master's candidate Tuition $7,400 $8,200 Laboratory...
John and Jenn are a married couple in their mid-forties. They have two teenaged children, one...
John and Jenn are a married couple in their mid-forties. They have two teenaged children, one of whom is going to be starting university in the fall. They have been life-long savers, started contributing to registered educational savings plans (RESPs) when each of their children were born, and have a small mortgage remaining on their home. During their annual review, what changes to their asset allocation would be beneficial? 1. Increase in bond and money market funds to increase interest...
John and Jenn are a married couple in their mid-forties. They have two teenaged children, one...
John and Jenn are a married couple in their mid-forties. They have two teenaged children, one of whom is going to be starting university in the fall. They have been life-long savers, started contributing to registered educational savings plans (RESPs) when each of their children were born, and have a small mortgage remaining on their home. During their annual review, what changes to their asset allocation would be beneficial? 1. Increase in bond and money market funds to increase interest...
usan and Stan Collins live in Iowa, are married and have two children ages 6 and...
usan and Stan Collins live in Iowa, are married and have two children ages 6 and 10. In 2017, Susan's income is $38,290 and Stan's is $12,000 and both are self-employed. They also have $500 in interest income from tax exempt bonds. The Collins enrolled in health insurance for all of 2017 through their state exchange but did not elect to have the credit paid in advance. The 2017 year-end Form 1095-A the Collins received from the exchange lists the...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT