While at lunch with a group of coworkers, one of your friends mentions that he plans to buy a variable life insurance policy because it provides a good annual return and is a good way to build savings for his 5-year-old’s college education. Another colleague says that she’s adding coverage through the group plan’s additional insurance option. What advice would you give them?
Answer to relevant Questions1. Assume that Ryan’s gross annual income is $54,000 and Alison’s is $64,000. Their insurance agent has given them a multiple earnings table showing that the earnings multiple to replace 75 percent of their lost earnings ...What is group health insurance? Differentiate between group and individual health insurance.Explain four methods for controlling the risks associated with health care expenses.Why should a consumer consider purchasing a long-term care insurance policy?Use Worksheet 9.2. Do you need disability income insurance? Calculate your need using Worksheet 9.2. Discuss how you’d go about purchasing this coverage.
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