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David and Mary are a dual-career couple who just had their first child. David, age 28, already has a group life insurance policy, but Mary's employer does not offer life insurance. A financial planner is recommending that the 24-year -old May buy a $350,000 whole life policy with an annual premium of $1,670-the policy has an assumed rate of earnings of 8 percent a year. Help Mary evaluate this advice and decide on an appropriate course of action.

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