2:05 PM oo StarHub 4G K COR167e TMA02 (Jan... CASE STUDY Darren Leong aged 38 lives in a HDB Executive Apartment. Besides the HDB cvecutive apartment, Darren owns the following assets as shown below: WEALTH GROUNDING FOUNDATIONAL PART Purchase Price Purchase Price S128.000 Original Mortgage S196/000 Current Mortgage Balance $135,000 cument Loan Balance Fair Market Value S735,000 Fair Market Value SI08000 Savings Account Balance $3,000 Fixed Deposit Account $4.500 Geouth Stock Unit Trust Market Value Personal Property S9000 Credit Card Outstanding Balance $7000 CPFOrdinary Account Balance S93.000 CPF Special Account Balance WEALTH PROTECTION TAN PLANNING 1. About 8 years ago, Darren bought a SI50 000 5-year limited pay whole life plan. The annual premium for his plan was S19,500 pa The Cash Value od his plan is S48,750. 2. Darren has put in place a Hospital Income Insurance Plan that isdesigned to pay him daily cash benefit of S250 up to 180 days per hospitalization and for 1000 days per lifetime. The premium for the Hospital Income Insurance plan is SI975pa. 3. Darren recently bought a Disability Income Insurance policy with a sum assured equal to 70% of his monthly salary, ie SS250 which is 70% of OSS,000 s2,5000 The deferred period is 6 months in the event that he is disabled and the Disability Income Insurance policy covers him up to the age of 65 years. The annual premium for his plan is $10,800 pa Damen rents out one common room to Mr Leow for SS50 per month, Mr Leeuw has gone overseas for 6 weeks and will retuminearly January 2017. Mr Leow said that he would pay the rent for December 2016 and January 2017 upon his retum Tutor Marked Assignment-Page 3 CORB67e Courses Calendar To do Notifications Messages 2:05 PM oo StarHub 4G K COR167e TMA02 (Jan... CASE STUDY Darren Leong aged 38 lives in a HDB Executive Apartment. Besides the HDB cvecutive apartment, Darren owns the following assets as shown below: WEALTH GROUNDING FOUNDATIONAL PART Purchase Price Purchase Price S128.000 Original Mortgage S196/000 Current Mortgage Balance $135,000 cument Loan Balance Fair Market Value S735,000 Fair Market Value SI08000 Savings Account Balance $3,000 Fixed Deposit Account $4.500 Geouth Stock Unit Trust Market Value Personal Property S9000 Credit Card Outstanding Balance $7000 CPFOrdinary Account Balance S93.000 CPF Special Account Balance WEALTH PROTECTION TAN PLANNING 1. About 8 years ago, Darren bought a SI50 000 5-year limited pay whole life plan. The annual premium for his plan was S19,500 pa The Cash Value od his plan is S48,750. 2. Darren has put in place a Hospital Income Insurance Plan that isdesigned to pay him daily cash benefit of S250 up to 180 days per hospitalization and for 1000 days per lifetime. The premium for the Hospital Income Insurance plan is SI975pa. 3. Darren recently bought a Disability Income Insurance policy with a sum assured equal to 70% of his monthly salary, ie SS250 which is 70% of OSS,000 s2,5000 The deferred period is 6 months in the event that he is disabled and the Disability Income Insurance policy covers him up to the age of 65 years. The annual premium for his plan is $10,800 pa Damen rents out one common room to Mr Leow for SS50 per month, Mr Leeuw has gone overseas for 6 weeks and will retuminearly January 2017. Mr Leow said that he would pay the rent for December 2016 and January 2017 upon his retum Tutor Marked Assignment-Page 3 CORB67e Courses Calendar To do Notifications Messages