Please refer to the attached Case Study and Background Information (See attachment 1, 2 &3)

1. Devise ten (10) relevant questions you would ask your clients to find out more about their personal insurance needs.
2. Explain the purpose of each question, i.e. how the clients' response can help you to determine their personal insurance cover requirements.

Question	Purpose of question

Case study You meet again with Aman (age 42) and Juanita (age 37) from Assignment 1 to review their personal insurance needs. Aman and Juanita have four children: *- * - * Sara (age 19) currently attending university and not working Jamile (age 17) completing Year 12 and likely to go to full-time employment on apprenticeship Katih (age 14) completing Year 9 and likely to go to university. She has been a paraplegic since birth due to a spinal cord injury Karla (age 9) completing Year 3. Aman and Juanita's objectives are to ensure that if either of them dies, suffers a serious illness or is temporarily or permanently disabled, they want: *- to be able to afford for either of them to take six months leave of absence from work as the surviving spouse or carer for their disabled/ill spouse a buffer of $100,000 to cover medical treatment, or additional home care support to support each child's education/apprenticeship allowing for $5,000 p.a. for each child until they reach age 23. Aman and Juanita would like to replace their annual income if they were unable to work again. They have noted the following: * They do not want a serious illness or injury to put them in an adverse financial position that would make it difficult for them to retire in 25 years. Aman is in good health but he is a heavy smoker. Juanita does not smoke but has high blood pressure and high cholesterol which her prescribed medication for this doesn't seem to be controlling well. They want 'value for money' on the insurance premiums they have to pay and not over-insure. Fallnawing are the details of their nersonnal situatinn assets and liahilities cash flow and current insurance Personal information Surname Khan Khan Christian name Aman Juanita Salutation Mr Mrs Age/Date of birth 42 37 Status Married Married Home address 28 Market Way, Townside 28 Market Way, Townside Occupation Manager and business operator Sales and clerical Employer Homeware Galore (self-employed) Homeware Galore (self-employed) Years self employed 5 years 5 years Sick leave currently available Nil Nil Smoking status Smoker Non-smoker Health Excellent, no issues High blood pressure and cholesterol Retirement age 67 62 Assets and investments Lifestyle asset Owner Value Details Principal residence Joint tenants $1,100,000 Mortgage outstanding $250,000 10-year term, 4.7% P&I (repayments $32,000 p.a.) Contents Joint $80,000 nsured value Car: 2022 Holden Commodore Aman 545,000 Fully paid off Car: 2016 Audi Q7 Juanita $45,000 Fully paid off Financial asset Owner Value Details ANZ mortgage offset account Joint $40,000 Available in emergencies/illness REST Super Aman $210,000 100% Core Strategy (My Super default) Standard default insurance in place REST Super Juanita $175,000 100% Core Strategy (My Super default) Standard default insurance in place Homeware Galore (business) Aman and $1,280,000 Valuation provided end of financial year: Juanita - Goodwill $650,000 . Operating bank account $150,000 . Equipment $130,000 . Stock on hand $350,000Annual income and cash flow details a = ma Total income received 580,000 $160,000 Tax payable including Medicare and offsets 18,067 18,067 36,134 (2022/23) 5 5 | one a Insurance and risk management This is a summary of Aman and Juanita's lite insurance situation. TPD $28,600 | Premium $0.82 p.w. ; 52,125 Premiunn $6.40 pw. Income protection = | Aman an : oe per month S0-day waiting period benefit period five pears Life want | $361,000 Premiunn 56.75 pw. TPO jwanita 526,600 Premium 90.74 pie. ; 52,125 Premuunn 54.20 pw. Income protection per month S0-day waiting period benefit period five years The above insurance is the default insurance cover in their REST Super accounts. Personal needs and assumptions They would also like you to explain any government assistance that might be available in the event of death or disability. Business needs and assumptions if death or disability ocours for ether of them, they believe the business's operating bank account balance of $150,000 would be sufficient to cover business overheads for six months. The business has no debts to be repaid