Questi">

Question Details

(Solved) (Latest ver. Aug 2020) - Life Insurance Policy

Brief item decscription


Item details:

Question:

Jeff and Ann are both 28 years old. They have been married for three years, and they have a son who is almost two. They expect their second child in a few months.

Jeff is the head teller in a local bank. He has just received a $30-a-week raise. His income is $480 a week, which after taxes, leaves him with $1,648 a month. His company provides $20,000 of life insurance, a medical/hospital/surgical plan, and a major medical plan. All of these group plans protect him as long as he stays with the bank.

When Jeff received his raise, he decided that part of it should be used to add to his family's protection. Jeff and Ann talked to their insurance agent, who reviewed the insurance Jeff obtained through his job. Under Social Security, they also had some basic protection against the loss of Jeff's income if he became totally disabled or if he died before the children were 18.

But most of this protection was only basic, a kind of floor for Jeff and Ann to build on. For example, monthly Social Security payments to Ann would be approximately $1,250 if Jeff died leaving two children under age 18. Yet the family's total expenses will soon be higher after the birth of the second baby. Although the family's expenses would be lowered if Jeff died, they would be at least $250 a month more than Social Security would provide.

Questions
1 What type of policy would you suggest for Jeff and Ann? Why?
2 In your opinion do Jeff and Ann need additional insurance? Why or why not?

 







About this question:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Sep 16, 2020

PRICE: $11.5

Solution~00010621.zip (18.37 KB)

Buy this answer for only: $11.5

Pay using PayPal (No PayPal account Required) or your credit card. All your purchases are securely protected by PayPal.
SiteLock

Need a similar solution fast, written anew from scratch? Place your own custom order

We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

Order Now