Julia has always tried to keep her insurance spending under control by purchasing low limits on her policies. Now that her assets and income have grown, she is beginning to reconsider the wisdom of this approach when buying insurance. Julia knows she has a lot more to lose in terms both of property and liability exposures. Last week, she called her insurance agent to discuss raising her policy limits on her home-owner’s and automobile insurance policies. The agent suggested she consider an umbrella liability policy. Julia still wants to be frugal and is considering simply raising the limits on the policies she already has rather than obtaining another policy. Offer your opinions about her thinking.
Answer to relevant Questions(a) Explain to Mark and Kelly why their policy might have been canceled.(b) Use the box on page 306 to give Mark and Kelly some pointers on how to save money when shopping for a new auto insurance policy.Mark and Kelly ...1. Distinguish between health maintenance organizations (HMOs) and traditional health insurance. 2. Identify two benefits of selecting a preferred provider organization (PPO) when seeking health care. 3. List three ways you ...1. Michael Howitt of Berkley, Michigan, recently had his gallbladder removed. His total bill for this surgery, which was his only health care expense for the year, came to $13,890. His health insurance plan has a $500 ...1. Distinguish among the owner, the insured, the beneficiary, and the contingent beneficiary of a life insurance policy. 2. Briefly describe each of the five components of all insurance policies. 3. Identify the five ...(a) Do you think universal life insurance is a good deal for these people? Why or why not?(b) How can the individual fraternity members decide how much life insurance they need?(c) Life insurance cannot be as confusing as ...
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