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05-06-2024
Business

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Leon earns $100, 000 per year as a notary. He is married to Denise and they are parents of two - year - old twins. To ensure his family's financial security in the
event of his death, he purchased a $1, 000, 000 insurance policy on his life. Since Denise is a stay - at - home mother with no employment income, Léon
believes he has enough insurance coverage to offset any financial losses in the event of his or her death. Is Leon correct?
a. Léon is right: the $1, 000, 000 life insurance policy will provide sufficient income for Denise and the children.
b. Léon is right: insuring Denise's life is unnecessary since she has no income.
c. Léon is incorrect: he should purchase life insurance on the twins.
d. Léon is incorrect: if Denise were to die, Léon would incur additional child care expenses.

Answer :

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