FIN 420 Week 5 Team Assignment Financial Planning in Action
Use the“ Figure It Out!” workhsheet in Ch. 10 of your textbook in the“ Estimating Your Life Insurance Requirements” section to calculate your own life insurance needs. Obtain premium rates for $ 50,000 whole life, universal life, and term life policies. Compare the costs and provisions of these policies.
Read“ Case in Point – Life Insurance for the Young Married” in Ch. 10. Answer the following:
What type of policy would you suggest for Jeff and Ann? Why?
In your opinion, do Jeff and Ann need additional insurance? Why or why not?
· Read“ Case in Point – Planning for Retirement” in Ch. 14 of your text. Answer the following questions:
In the past, many workers chose to stay with their employers until retirement. What was the major reason for employee’ s loyalty?
How did Maureen amass $ 1.4 million for retirement, while Therese could only accumulate $ 553,000?
Why do women need to start early to save for retirement?
What expenses may increase or decrease during retirement? ===================================================
FIN 420 Week 5 Team Assignment Financial Planning in Action
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