Deshawn is 38 years old and is married with 3 children, ages 2, 4, and 6. he makes $45,000 a year and is planning to retire when he turns 60. from the following three options, deshawn decides to buy the $900,000 20 year term policy. given deshawn’s scenario, assess whether deshawn made a wise decision.
a. deshawn would be safer buying whole life policy.
b. deshawn would have more money in the long run if he invested in the 20-year endowment.
c. deshawn’s current policy will cover his family for an adequate period of time at his current salary.
d. deshawn’s current policy has too high of a face value and does not cover his family long enough.