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15 September, 04:05

Teresa is 25 years old, and she makes $30,000 per year. If Teresa were to die,

how much would the beneficiaries of her life insurance policy receive if they

can get by on 75% of her income?

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Answers (1)
  1. 15 September, 07:36
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    They would receive $22,500 which is 75% of her income

    Step-by-step explanation:

    Here, we want to know how much the beneficiaries of a life insurance scheme would receive if their principal die.

    From the question, we are told that they have the right to claim 75% of her income

    From the question also, we were told that what she earns per annum is $30,000

    Now, since they have the right to claim 75%, the amount they can claim out of the said income will be;

    75/100 * $30,000 = $22,500
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