Mary and John are in their mid-thirties. They have 2 children aged 7 years and 10 years.
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Question:
Questions:
1. Would income protection insurance be appropriate for John to consider? Why?
2. Would income protection insurance be appropriate for Mary to consider? Why?
3. If John had taken your advice and taken out income protection insurance, how much would he receive each month (after his waiting period had been met) if he was unable to work due to depression?
4. What types of insurance should Mary consider?
5. If cash flow is a concern for John and Mary, what strategies could you suggest to enable them to continue with their term life insurance but add income protection as well for John?
Related Book For
Income Tax Fundamentals 2015
ISBN: 9781305177772
33rd Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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