Joleene is a single parent with two children and earns $45,000 per year- She is purchasing term life insurance for 15 years until her youngest child is self supporting- Assuming her survivors can receive a 3% after-tax, inflation return on insurance proceeds, use the earnings multiple approach to calculate the face value of Joleene's policy.

What Is the Difference Between Life and Health Insurance? 
Health insurance pays for your medical treatment, drugs, and preventative check-ups for you and others covered under your plan.

Life insurance provides a cash sum to your loved ones if you die during the length of the Life insurance policy.