Janet Samuels is a single mother with one daughter. Janet would like to purchase

Question

Janet Samuels is a single mother with one daughter. Janet would like to purchase enough life insurance to provide the following:

Pay off home mortgage $116,000
Pay off other loans 19,000
Final expenses 10,000
College education for daughter 60,000
Annual living expenses for daughter 30,000/year for 12 years

If Jane were to die, her daughter would receive $14,400 annually for 12 years from Social Security. She is also the primary beneficiary of Janet's $100,000 group life policy. Given this information, how much more life insurance does Janet need?

Explanation / Answer

= 116000+19000+10000+60000+30000*12 - 14400*12 -100000 = 292,200 Please rate appreciated

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