Married male aged 35, spouse aged 30, children ages 2 and 5 - Income needed first 2 years : $1700/month - Income needed next 14 years : $1460/month - Income thereafter for surviving spouse: $971/month - Assumed interest rate: 4.0 percent - Cleanup fund : $20,000 - Mortage redemption fund : $80,000 - Emergency fund : $30,000 - Education fund for children: $160,000 - Combined needs: $584,800 Can you explain how to calculate the combined need($584800) from the above circumstance? Monetary Evaluation of the Foregoing Needs - The family head is a male aged 35. - Has gross annual earnings of $40 , 000 , and devotes $20 , 000 per year to his family. - He has a wife aged 30 and two children, ages 2 and 5. Monetary Evaluation of the Foregoing Needs - An income of $1 , 700 per month is to be provided during the first 2 years. - $1 , 460 per month during the next 14 years. - \$971 per month thereafter for the life of the surviving spouse. Monetary Evaluation of the Foregoing - $1 , 460 per month during the next 14 years. - \$971 per month thereafter for the life of the surviving spouse. Monetary Evaluation of the Foregoing Needs Monetary Evaluation of the Foregoing Needs - If the individual in the example is covered under the government program, it is very probable-nearly two-thirds of the income needed until the youngest child is 18 will be provided by the federal government. - This would reduce the personal insurance requirements by approximately $170 , 000 Analysis of Needs (needs approach) How much we are going to contribute to family / ourselves in the future - Cleanup Fund: is a fund to meet the expenses resulting from the insured's death and to liquidate all current outstanding obligations. E.g. depend on how old is the kid - Readjustment Income: an adjustment will generally have to be made in the family's standard of living - Income during Dependency Period: income should be provided in a reduced amount until the children, if any, are able to support themselves (critical period income). - Life Income for Surviving Dependent Spouse. - Special Needs: mortgage redemption needs, educational needs and emergency needs. Monetary Evaluation of the Foregoing Needs - Comparing the monetary value of the above needs with the economic value of the human life computed earlier. - Estimated economic value -Less amounts already available (Social Security, investments, existing benefits and so on)=Equals unfunded amount that can be made up with life insurance .

1. Mars is the 4th planet from the Sun. It is one of the terrestrial planets. Is Mars solid like Earth or
gaseous like Saturn? In general terms, what is Mars made of? (Do not look this up online! Think
about this!). {And, telling me that it is made of dust is not correct.} molten lava metallic iron
solid rock red sand If all the planets in the solar system formed at about the same time, why do
you think craters are so much more numerous on Mars than they are on Earth? There are 4
choices that are correct. Choose the one that is NOT correct. Fewer molecules in the atmosphere
allow more asteroids to land before burning up No weather on the surface results in no erosion of
the craters Stronger gravity on Mars pulls in more asteroids Earth's vegetation and water bodies
cover the craters Strong winds on Mars blow the surface material away leaving the craters
showing. 9. Notice the north arrow in the picture. From which way did the wind blow to make
the streaks shown in the photo? A) North B) South C) East D) West 10. If mars rotates in the
same direction as earth, from east to west, in what hemisphere was this photo taken? a) Eastern
b) Southern c) Western d) Northern