Which of the following people would need life insurance the most?

The option indicating the married couple with two children in grade school, both spouses working and having a mortgage, would most need life insurance. This is primarily because they have dependents—children—who rely on their income for support. In the event that one of the parents passes away, life insurance can provide financial stability to cover essential living expenses, education costs, and the mortgage, ensuring that the children's needs are met.

Additionally, having two working parents often means that both incomes are essential for maintaining their current standard of living. Losing one income could significantly impact their financial situation, making life insurance an important safety net. This coverage can help the remaining spouse manage the household, care for the children, and continue to meet financial obligations.

In contrast, options that involve individuals who are either single without dependents or those who are retired with adult children no longer dependent on them do not have the same level of need for life insurance. Their financial situations are often less vulnerable to the sudden loss of income, as they are not primarily responsible for the well-being of dependents. Hence, these factors contribute to why the married couple with young children is the most in need of life insurance.