Question: You meet with a prospective client. Phyllis (age 66), to discuss her financial and estate plan. Phyllis would like to have a better understanding

You meet with a prospective client. Phyllis (age 66), to discuss her

You meet with a prospective client. Phyllis (age 66), to discuss her financial and estate plan. Phyllis would like to have a better understanding of the risks facing her, and how she can properly protect herself against such risks. After your discussion, you tell Phyllis that one of the main risks facing her is longevity. Which of the following would have the GREATEST impact in determining longevity risk for Phyllis? Phyllis needs to modify her home to accommodate motorized wheelchairs for her parents. Phyllis suffered a broken leg several years ago and was off work for 6 months to recover. Phyllis has a non-indexed defined benefit pension plan. Phylis is in great health and both of her parents are alive and over age 90. 29 O Oa) Ob) Oc) Od) 3888

Step by Step Solution

★★★★★

3.44 Rating (151 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

First of all we have to understand the meaning of Longevity Risk Longevity risk is the risk that pen... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Retirement Distributions A million dollars sounds like a lot of money to have when you retire. But, how long will that million actually last? Assume that you will take 4% out of your retirement...

You meet with a prospective client, Jenna, to discuss her insurance needs. Through your needs analysis, you determine that Jenna needs approximately $200,000 of life insurance, but you are concerned...

You meet with a prospective client, Tamako, the vice president of human resources for a software development firm. She would like to implement a group savings and investment plan for her employees...

Now that you have a better understanding of the statement of cash flows and how it is prepared using the indirect method, lets take a look at the 2010 financial information for Skechers USA, Inc. Go...

I need help with these questions please. I am not sure if these are correct or not. Please help Which of the following clients has the GREATEST need for estate planning based on the information...

I hope you can answer this question and find the reference below the question. Thank you Topic: Conducting personal job interviews using the STAR model 1- Design a two-hour training work plan for 10...

Topic: Conducting personal job interviews using the star model 1-Design a two-hour training work plan for 10 trainees 2-Determine the quality of trainees 3-Use the training design model Formulate one...

Prepare a Statement of Advice (SOA) for the Martins interviewed for Assignment 1. The case study information is attached as a picture at the bottom of the page. As this assignment is to be a SOA for...

i need help from section 3 part A I have already posted this and you asked me to post under advanced option Assignment Tier 1 Financial Planning (Tier1FPPA_AS_v1A3) Page 2 of 92 Student...

Im having trouble with question 3 part A of the attached file. I know and understand her needs but im not sure if im filling out the table correctly ? Assignment Tier 1 Financial Planning...

6.4 - Discussion: Investments Financial Statements AnalysisDirections Using the Annual Report of your selected company answer the following questions in the Discussion: What depreciation method does...

An alternative form of estimation is accomplished through the method of moments. The method involves equating the population mean and variance to the corresponding sample mean x and sample variance s...

What is the present value of a $100 perpetuity if the interest rate is 7%? If interest rates doubled to 14%, what would its present value be?

Help Save 8 Exit Submit 1 3 A decision is one that involves deciding which long - term investments a firm should make. 8 0 0 4 9 : 2 0 Multiple Choice ettook cost of capital working capital...

cos 8. The principal value of +sin sin- 3 ) is cos 3 4 a) b) 2 c) 3 d) 3 8.a f(x)= cos: 2 +/sin log, (x+1) is [a,b], then a + 2b = 9. If domain of the function (A) 0 (B) 1 (C) 2 (D) 3 9. 10. If x =...

Pove this is a topology on X and that for any space and any continuous f: X Y s.t. f(x) = f(x.) whenever 1,~2, there is a unique continuous map F making the diagram below commule :

How will hawala be applied the following questions? The explanation must cover a diagram of the Hawalah transaction indicating hawalah parties, who is who in term of hawalah, nature of relationship...

Activity 1: Create an organisational profile The activity requires you to develop an organisational profile for marketing activities. To develop the organisational profile, you are required to use...

Northern Virginia Community College HOW MUCH FINANCIAL RISK SHOULD YOU TAKE? Mark D. D'Antonio Nova Southeastern University FORT LAUDERDALE, FLORIDA, U.S.A. Abstract A successful retirement...

Jin is an accountant. Nuankae is a sous chef at a successful Spanish restaurant on E. 68th Street, called Que Lastima. Jin and Nuankae (who likes to be called Kae) both enjoy Louisiana cuisine and...

Two of your acquaintances, Alexandra and Xerxes, started operating a software security business eighteen months ago.They have operated as a general partnership doing business under the name "AX...

Read the case study and please answer the follow questions- Outline the major strengths, weaknesses, opportunities, and threats (SWOT) that Mistine should place emphasis on in a bid to achieve a...

How far and in what directions will value-for-money auditing need to develop to meet current and prospective changes in public sector organization and management?

7. Do you always aim to meet with a prospective Client prior to bid submission?