Patrick is preparing a worksheet to estimate the amount of life insurance he needs. He estimates his final expenses needs to be \$25,000, and estimates family expenses needs to be \$425,000. He estimates his special needs to be \$200,000. Patrick’s total financial assets are \$450,000, including \$250,000 of life insurance and \$100,000 in a Section 401(k) plan. Using the needs approach, how much additional life insurance does Patrick need?

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Are you looking for the correct answer to the question “Patrick is preparing a worksheet to estimate the amount of life insurance he needs. He estimates his final expenses needs to be \$25,000, and estimates family expenses needs to be \$425,000. He estimates his special needs to be \$200,000. Patrick’s total financial assets are \$450,000, including \$250,000 of life insurance and \$100,000 in a Section 401(k) plan. Using the needs approach, how much additional life insurance does Patrick need?”? If that’s the case, you don’t have to worry anymore. Azanswer team is here with the right answer to your question. Please check below to know the answer.

A. \$ 0

B. \$175,000

C. \$200,000

D. \$400,000