Borrowing and Insurance Case Study ii - Read the scenario and answer the questions given the infonnation beiow. You're 27 years old and you graduated from college four years ago. You've almost paid off your student loan and car loan. You and two roommates rent a small house near the beach and you recently got a new credit card that offers cash back rewards. Unlike you, neither of your roommates have health insurance because they think health insurance is only for old people. You show your roommates a video called Can I Skip Health Insurance? 1. What is the main reason why young healthy people should still get health insurance? 2. Why might your roommates benet from having a high deductible health plan? 3. Other than health insurance, what types of insurance are you likely paying for? 4. Which of these other types of insurance are required by the government? Why? 5. Do you think that you need life insurance? Why or why not? 6. Which is likely to have a higher interest rate. your student loan, car loan. or credit card? Why? 7. One of your roommates uses his credit card to pay his car payment so he can get cash back rewards. Do you think that you should do this too? Why or why not