Question

34. Tae-Joon, aged 45, and his wife Ji-Eun, aged 31, work as mid-level manufacturing executives for a company that offers no insurance benefits. They have two very young children. The couple recently bought a home, taking on a mortgage with a 20-year amortization period. They need both of their salaries to pay the mortgage and meet their other financial obligations. In addition, they are saving whatever money they can in order to sponsor Tae-Joon's parents from Korea. They would like to purchase life insurance but cannot afford to spend very much on premiums. Which of the following options would be the most cost-effective way to meet their needs? A T-65 policy on Tae-Joon's life with a child coverage rider. Two separate T-20 policies: one on Tae-Joon's life, and one on Ji-Eur's. A joint first-to-die T-20 policy naming the surviving spouse as beneficiary. A joint last-to-die T-20 policy naming the children as beneficiaries. Choose 7 opton

          34. Tae-Joon, aged 45, and his wife Ji-Eun, aged 31, work as mid-level manufacturing executives for a company that offers no insurance benefits. They have
two very young children. The couple recently bought a home, taking on a mortgage with a 20-year amortization period. They need both of their salaries to
pay the mortgage and meet their other financial obligations. In addition, they are saving whatever money they can in order to sponsor Tae-Joon's parents
from Korea. They would like to purchase life insurance but cannot afford to spend very much on premiums.
Which of the following options would be the most cost-effective way to meet their needs?
A T-65 policy on Tae-Joon's life with a child coverage rider.
Two separate T-20 policies: one on Tae-Joon's life, and one on Ji-Eur's.
A joint first-to-die T-20 policy naming the surviving spouse as beneficiary.
A joint last-to-die T-20 policy naming the children as beneficiaries.
Choose 7 opton

34. Tae-Joon, aged 45, and his wife Ji-Eun, aged 31, work as mid-level manufacturing executives for a company that offers no insurance benefits. They have
two very young children. The couple recently bought a home, taking on a mortgage with a 20-year amortization period. They need both of their salaries to
pay the mortgage and meet their other financial obligations. In addition, they are saving whatever money they can in order to sponsor Tae-Joon's parents
from Korea. They would like to purchase life insurance but cannot afford to spend very much on premiums.
Which of the following options would be the most cost-effective way to meet their needs?
A T-65 policy on Tae-Joon's life with a child coverage rider.
Two separate T-20 policies: one on Tae-Joon's life, and one on Ji-Eur's.
A joint first-to-die T-20 policy naming the surviving spouse as beneficiary.
A joint last-to-die T-20 policy naming the children as beneficiaries.
Choose 7 opton

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