Sarah is using the needs approach to determine how much life insurance to buy. Her...
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Sarah is using the needs approach to determine how much life insurance to buy. Her cash needs are $30,000; her income needs are $140,000; and special needs are $100,000. Sarah has the following assets: $30,000 in bank accounts, $30,000 in retirement plans, and $40,000 in investment accounts. Sarah owns no individual life insurance. She is covered by a $90,000 group life insurance policy through her employer. Based on this information, how much additional life insurance should Sarah purchase? Show all your work.
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