AN INSURANCE PLANNING MINI-CASE / TUTORIALOUTLET DOT COM AN INSURANCE PLANNING MINI-CASE / TUTORIALOUTLET D | Page 7

increase 3% annually. They anticipate being in a combined 25%
marginal tax bracket in retirement. Inflation
before and after retirement will be 3.50%; their incomes should keep
pace with inflation. John’s employer
matches 401(k) contributions $0.50 cents on the dollar. IRA assets are
held in Roth accounts. Assumed age
at death for John is age 90 and age 92 for Haley. Estate Information
They both have simple wills. John leaves his estate to Haley and
Haley leaves her estate to John.