Saturday, March 10, 2012

What is the reason under current law for only insuring to 75% of gross income for life insurance coverage?

What is the reason under current law for only insuring to 75% of gross income for life insurance coverage?

A. It will not be as costly to live after they are gone

B. It is too expensive to cover 100%

C. The law does not allow any more

D. There is an income tax exemption on life insurance benefits



Anyone?...The answer isn't A, because I got it wrong last time. Help?What is the reason under current law for only insuring to 75% of gross income for life insurance coverage?
D. You don't pay taxes on life insurance benefits.What is the reason under current law for only insuring to 75% of gross income for life insurance coverage?
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What is the reason under current law for only insuring to 75% of gross income for life insurance coverage?
There is no "law" saying that life insurance must be limited to 75% gross annual income.
No such law in the U.S.

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