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Business, 25.02.2020 17:22 CHENDESHEN

Larry, a 40 year old salesperson, earns $90,000 per year and plans to work until age 65. He is married to Joan and has 2 children. He expects his annual salary increases to be 1%, and the inflation rate to be 2%, and their average tax bracket (state and federal) is 25%. Larry estimates that 20% of his after-tax income is used for personal consumption. Based on the Human Life Value approach to life insurance needs analysis, how much life insurance should Larry purchase

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Larry, a 40 year old salesperson, earns $90,000 per year and plans to work until age 65. He is marri...
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