HLLQP Life Insurance questions with correct answers

Prabdeep is sole sales representative. He has good connections in community that his sister Shatakski does not. Shatakski starts a business with on demand load. If prabdep were to die. Agent reccomends coverage on is brother to cover on demand loan Answer The bank can recall the loan if the feel business may not be successful without prabdeep who is the KEP EMPLOYER Insurance company reviewing for group adjustable whole life policies. Comapring projections made 10 years ago realized actual invesments are highter. in return. Answer Reduce premium and increase death benefit Rashaad is architect monthly salary $6500 of that employer withholds $250 for CPP and $425 for company pension and $75 for employment Insurance and $1450 for income taxes . Rashaad contributes $200 a month in TFSA taking into wife income he belieces family could maintain lifestyle with 75% of his income if he were to die. What is the amount of month income Rashaad needs analysis should be based on to determine the amount of insurance coverage he needs? Answer Monthly Income after deductions: $4100 $6500 - ($200TFSA) - ($250 CPP) - ($425 Company Pension) - ($75 EI) - ($1450 Income Tax)