Luke is 30 years old and earns an annual salary of $55,000- His wife wants to take out a life insurance policy on him until he turns 67- Using the earnings multiple approach, how large should the face value of his insurance policy be?assuming his wife can earn an annual rate of return of 8.5% on his life insurance pay off?

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.