About your client

Name:

Donald Ruiz

Age:

53

Marital status:

Divorced

Health:

Good overall, but is diabetic

Occupation:

Medical device sales (frequent travel required)

Income:

$160,000 per year

Total assets:

$75,000 (not including value of home)

Total debt:

$308,000 (includes mortgage of $255,000)

Dependents:

3 children ages 8, 11, 16

Other notes:

The children stay with their mother, Donald's ex-wife, but Donald contributes substantially to their care and wishes to fully fund their college education.He has a high tolerance for risk and likes to keep most of his funds invested in the stock market.He spends most of his income and saves little.

Part 1 - Health Insurance

Donald qualifies for group coverage through his employer.If he leaves to pursue another job, but chooses to take 6 months of in the interim, what are his options to bridge the gap in coverage?

Part 2 - Life Isurance

Donald has a small life insurance policy through his employer that self-cancels if he leaves the company.He has never considered adding additional coverage.What type(s) might you recommend and why?

Part 3 - Property & Casualty Insurance

Donald has his home and auto coverage through Acme Insurance, a company that attracted his business through the promise of very low premiums.As you review Donald's home and auto coverage, what might you be looking for to ensure he has adequate coverage?

Part 4 - Annuities

Donald recently received an inheritance of $150,000 and wishes to put this money aside for his retirement.Could an annuity be appropriate for Donald?