Ask Question
13 August, 12:07

The total debts of you and your spouse include the following: mortgage, $200,000; auto loan, $16,000; credit card balance, $2,000; and personal debts of $4,000. Further, you estimate that your funeral will cost $6,000. Your spouse expects to continue to work after your death. What is your life insurance need using the DINK method?

+1
Answers (1)
  1. 13 August, 15:42
    0
    Using the DINK method, your life insurance need $117000

    Explanation:

    The DINK method is used to ensure that one spouse will not be unduly burdened by debts should the other spouse die ...

    according to DINK method, you are to sum half of the total debts

    total life insurance = funeral expenses + one half of mortgage + one half of auto load + one half of credit card balance + one half of other debts

    = $6000 + $100000 + $8000 + $1000 + $2000

    = $117000

    Therefore, Using the DINK method, your life insurance need $117000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The total debts of you and your spouse include the following: mortgage, $200,000; auto loan, $16,000; credit card balance, $2,000; and ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers