Principles of Insurance Assignment | Homework For You

PRINCIPLES OF INSURANCE FINAL EXAM l smed der you are a wachawillow ware h ouse GOOD LUCK AND MERRY CHRISTMAS SCENARIO E nd signed point. The Defined ) plast just finished his residency in Wimpern monthly payment of a week Memorial Hospital offers a and married and moved to your are. They are both year per w dome n a planing their own, but they new they are to be cal s e des de W e Sade e employed by the hospital diretta internal medicine and has been offered a jobs Mer . . Hehe of student be with an aging salary of Sasa. crying y purchased a new home and signed a 30-year-orge for pamator. Denna does not were the plated contra children and are being to have at least the car fure Memorial Hopala ay with the other He ated work we by the hospital Both retirement plans begin after one year of the cropter religibility insurance policy her automatically covers Dr Jones formes is a We Comer Directed Health Plan to its employees.

They have a to the normal his always up to the requirements of group plans. He has the option of purchasing additional group form Salary The Hospital provides lectors with a group long-term disability plan that e up to 40% for is totally disabled. Donna has no life insurance. They have do for rance. They have done a budget and will need 57000/month the after vice on til beds (this includes the mortgage and student loans) and an additional to seek advice etionary Beeds. They file their taxes as a married couple ning jointly. They have come to how to get started moving in the right financial direction. Assume the rate of in . Assume the rate of inflation equals the discount rate

4. They first ask you about his Long-Term Disability Insurance coverage

1) Why might you recommend that Mike purchase individual long-term disability

2) What sort of definition of disability would you recommend he choose and

3) How much coverage should he buy and WHY? the auction offered Mike asks you whether he should purchase the addition ther he should purchase the additional life insurance protection through the hospital or whether he should do something else.

1) What are the benefits of purchasing the additional group insurance individual policy?

2) How much for life insurance would you recommend that Mike have on his life if he was be able to cover essential needs for at least 20 years?

3) Assuming he buys the maximum group ferm me ne buys the maximum group term coverage (S1.000.000) and has additional need to that, what type of life insurance would you recommend and WHY? up insurance instead of purchasing an that Mike have on his life if he wants Donna to – Donna asks you about life insurance for her.

1) Do you recommend that she purchase any life insurance on her? If so, WHY?

2) What type of coverage would you recommend for her and WHY?

They are eager to begin saving money and have agreed that they can save 10% of his gross income (S25,000) pretty easily starting immediately. Can Mike and Donna both open a Traditional IRA this year? Can they deduct their contributions from their taxes? If so, will that change next year ir Mike decides to contribute to the 403(b) plan? Can either he or Donna open a Roth IRA? Why or Why not? Get Finance homework help today