Fin474:Estimate your insurance needs using the DINK method

You and your spouse are in good health and have
reasonably secure careers. Each of you
makes about $28,000 annually. You own a
home with an $80,000 mortgage, and you owe $10,000 on car loans, $5,000 on
personal debts, and $3,000 on credit card loans. You have no other debt. You have no plans to increase the size of
your family in the near future. Estimate
your insurance needs using the DINK method.

One half of mortgage

=

$40,000

One half of car loan

=

5,000

One half of personal debts

=

2,500

One half of credit card loans

=

1,500

Funeral expenses

=

5,000

Total insurance needs

=

$54,000