AN INSURANCE PLANNING MINI-CASE / TUTORIALOUTLET DOT COM AN INSURANCE PLANNING MINI-CASE / TUTORIALOUTLET D | Page 3

education costs, and all of Troy’s education costs that are not covered
by scholarships.
They want to maintain their current standard of living in retirement or
in the event of either spouse’s
premature death.
They want to protect their income and assets in the event of a
catastrophic accident or illness, so
that they can pass on their assets to their children. They both want to
continue funding their IRAs to the current maximum limit.
See Table VI.6 for information on the Butterfields’ assets and
liabilities. Current Insurance Data
Property and Casualty
Auto. All vehicles
Liability: $300,000 single limit (including uninsured motorist)
Medical payments coverage: $1,000 limit per person
Deductible: $250 collision; $100 comprehensive
Premium: $1,100 every six months
Auto 1: 20XX Honda Accord LX Sedan
Mileage: 30,000
Color: light blue
Engine: 6-cylinder
Transmission: manual
Payment: $310/month Balance: $8,500 with 2.5 years remaining
Worth: $17,500
Auto 2: 20XX Toyota Sequoia Limited (4×4)
Mileage: 5,500
Color: silver
Engine: 8-cylinder
Transmission: automatic
Payment: $500/month
Balance: $25,000 with 57 months remaining
Worth: $38,000
Home. Single-family dwelling
Insured value: $245,000
Replacement value: $315,000
Deductible: $500
Personal property: 50% of dwelling