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H and W are married and pay the mortgage with both incomes. There is a concern that if either one would die, the other's salary would not be able to pay the mortgage. H and W should consider:

A. Joint Life
B. Face amount
C. Variable life
D. Interest sensitive whole life

1 Answer

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Final answer:

H and W should consider Joint Life insurance to ensure the mortgage can be paid if one spouse were to die.

Step-by-step explanation:

If H and W are concerned that if either one were to die, the other's salary would not be enough to pay the mortgage, they should consider Joint Life insurance.

Joint Life insurance is a policy that covers two individuals simultaneously and pays a death benefit when one of the insured individuals dies. This would ensure that if one spouse passes away, the surviving spouse receives a payout that can be used to pay off the mortgage.

Face amount refers to the death benefit amount specified in the insurance policy, and it is not specific to a type of insurance. Variable life and Interest sensitive whole life are other types of cash-value (whole) life insurance policies, but they do not specifically address the concern of the mortgage being paid if one spouse were to die.

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