Prepare to discuss with Jake his need for various forms of insurance. For each of the following forms of INSURANCE INFORMATION

AUTO INSURANCE

Jake's parents covered the cost of his auto$-$insurance while he was in college. Now that he has

graduated, he is responsible for paying the $$65$ per month policy premium. However, if he

decides to purchase a new truck, he will have to get higher coverage that will cost $$135$ per

month.

RENTER'S INSURANCE

Jake does not currently have renter's insurance. If it is decided that this is something he needs, it

will cost him $$15$ per month.

LIFE INSURANCE

Jake currently has no life insurance. If he buys some, he will have to pay $$10$ per month for

every $$100,000$ of coverage he purchases.

DISABILITY INSURANCE

Jake's new employer provides short$-$term disability insurance as a benefit of employment.

MEDICAL INSURANCE

Jake was previously covered by his parent's health insurance policy. He can remain on his

parent's policy until he is $25,$ but he would like to get his own policy as soon as possible so his

parents don't have to keep paying for him. His employer has provided the following insurance

policy options:

insurance, discuss...

a$)$ The risk$($s$)$ the insurance helps mitigate.

b$)$ Does he need the insurance?

Renter's insurance.

Life insurance

Comprehensive automobile coverage

Analyze the two health insurance policies offered by his employer $($shown below$).$ What are the relative

advantages of each policy? Discuss how these policies can be used to decrease uncertainty and risk for

Jake.

Discuss for Jake if there are any other forms of insurance he should consider purchasing, and why those

insurance policies might be important.

Factor in the monthly costs of the insurance Jake needs into his budget. Give Jake a final, updated

financial plan that includes all the expenses and goals discussed in each of the previous case assignments.