Question: Your client, Leon, is a 35 year old, single qualified engineer. He is considering taking out $1m in life insurance for a cost of

Your client, Leon, is a 35 year old, single qualified engineer. He

Your client, Leon, is a 35 year old, single qualified engineer. He is considering taking out $1m in life insurance for a cost of $1500 p.a.. He has come to you for advice as he is not sure if it's worth the cost. Explain to Leon the reasons for and against taking out life insurance. (4 marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

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 Accounting Questions!

I need help with filling the chart and understanding the question with the solved answer.. Current Year Prior Year Accounts payable, and of year $ 4,863 $ 8,868 Accounts receivable, net, end of year...

Which one of the following situations is most apt to result in a liquidating dividend payment? a. F&D Florists is preparing to pay its first annual dividend of $.20 a share. b. Gibson Toys was...

Your client, Leon, is a 35 year old, single qualied engineer. He is considering taking out $1m in life insurance for a cost of $1500 p.a.. He has come to you for advice as he is not sure if it's...

GARY AND JUDY PARKER PERSONAL INFORMATION AND BACKGROUND Gary and Judy Parker live in Missouri and have been married for 19 years. They have two children, John and Julie, ages 17 and 15,...

THE QUESTIONS ARE BELOW I appreciate this help very much . The Butterfiells have also allocated $1,200 per vear to help pay for Troy's travel expenses He has completed one vear of college His health...

Using the Butterfield case, calculate and interpret the following financial ratios. All needed information is provided, except for the total credit available, which is $10,000 on the Visa credit card...

answer all questions please Victor a's Secret Y LOUIS VUITTON Gucci Oficial Site Impos APPENDIX Practice Set Assignments-Comprehensive Tax Return Problems PROBLEM 2 Samantha A. Cranston, age 37, is...

file:///C:/Users/Alissar/Downloads/Charles%20Shcwab%20in%202017%20.pdf Based on this Case study ( Charles Schwab in 2017) Is Charles Schwab a disruptive innovator? explain why you agree of disagree...

For the exclusive use of T. ZALAN, 2018. CASE: SM-282 DATE: 11/01/17 CHARLES SCHWAB CORP. IN 2017 The first time that Walt Bettinger met Chuck Schwab, he had no idea that one day he'd take the helm...

can somebody help me fill out the schedule 1 1040 with this problem 2. Roger also provided services for the following companies from his office; there- fore, there are no travel expenses. These fees...

The Waffle Corporation entered into two nonmonetary transactions during the current fiscal year. 1. Exchanged inventory having a cost of $2,500 and a retail price of $5,000 for the services of a...

Find 1f (fg) and (gf) (x) and the dmain f each. (a) f(x) = x + 3, g(x) = x - 3 (b) f(x) = 4/5 x, g(x) = 5/4 x (c) f(x) = x + 1, g(x) = 3x2 - 2x - 1

Find a formula for the general term a n of the sequehce, assuming that the pattern of the first few terms continues. ( Assume that n begins with 1 . . ) { 1 8 , - 4 9 , 9 1 0 , - 1 6 1 1 , 2 5 1 2 ,...

At the end of the accounting period the MOH control account has a credit balance of $320. What does this mean? A) The applied MOH was $320 more than the amount of actual MOH. B) There more MOH than...

Trevino Company makes and sells products with variable costs of $24 each Trevino incurs annual fixed costs of $315,000 The current sales price is $87e If fixed costs drop to $280,000, a. Determine...

CHOOSE THE CORRECT ANSWER: 1. If R & S is true, then which of the following is correct? A. R is true. B. R is false. C. R could be true or false. 2. If R & S is false, then which of the...

1) Record the entry for fair value adjustment of December 31, 2021. 2) Record the entry to adjust to fair value on the date of sale 3) Record the entry to reverse the previous fair value adjustment....

Tori and some other childeen experimented with balls to see which ones rolled. First using a piece of cardboard to use as a ramp, they angled it on a block to the floor to test the balls. Then Tori...

Explain how controlling relates to the other management functions. LO.1

Ambiance of 5-star hotels. Although invisible and intangible, ambient conditions such as air quality (x1), temperature (x2), odor/aroma (x3), music (x4), noise level (x5), and overall image (x6) may...

Suppose you fit the first-order model y = b0 + b1x1 + b2x2 + b3x3 + b4x4 + b5x5 + e to n = 30 data points and obtain SSE = .33 R2 = .92 a. Do the values of SSE and R2 suggest that the model provides...