WebFeb 2, 2024 · DINK (Dual income, no kids) is a slang phrase for households with two incomes and no children. DINKs tend to have higher disposable incomes because they don't have the expenses associated with ... WebEstimating Life Insurance Needs Using the DINK Method. You are a dual income, no kids family. You and your spouse have the following debts: Mortgage = $180,000; Auto loan = $10,000; Credit card balance = $2,000, and other debts of $6,000. Further, you estimate that your funeral will cost $4,000.

Solved You are a dual-income, no-kids family. You and your - Chegg

WebEach month she pays $1,200 in rent, $42 for life insurance, and $240 for her auto loan. What percentage of her budget goes for these fixed expenses? A Answer:40% Total Fixed expenses / projected income = ($1,200 + $42 + $240) / $3,700 = $1,482 / $3,700 = 0.40 = 40% 16 Q A taxable investment produced interest earnings of $1,200. WebEstimating Life Insurance Needs Using the DINK Method. You are a dual income, no kids family. You and your spouse have the following debts: Mortgage = $180,000; Auto loan = … historical reconstructionism

The method of determining life insurance requirements

WebThe four methods of determining your life insurance needs are the easy method, the DINK method, the “nonworking” spouse method, and the “family need” method. The easy method is to purchase the amount of life insurance that an agent has deemed the “typical” amount a family would need. WebUsing the DINK method, the need for life insurance can be calculated by adding up all the debts and expenses, including the mortgage, auto loan, credit card balance, other debts, and funeral expenses, and multiplying by a factor of 1.5. Therefore, the need for life insurance would be ($244,000 + $19,600 + $2,400 + $6,640 + $5,000) x 1.5 = $395,640. WebIndividual Term Life Insurance MEA Member Life Insurance MEA Financial Services Complete our online form below for yourself and/or other family members to receive a no … honc tobacco