Brad tells you about his plans to upgrade his auto insurance. Specifically, he would like to add several types of coverage to his policy, such as uninsured motorist coverage and rental car coverage. Recall that Brad is 30 years old. He also has a driving record that contains several speeding tickets and two accidents (ondof which ho caused). He realizes that adding coverago will Increase the cost of his insurance. Therefore, he is thinking about switching insurance companies to a more inexpensive carrier. Brad says that he is generally happy with the HMO Insurance plan he has through the technology company where he works. However, Brad mentions that he does not par- ticularly like to see his primary care physician oach timo ho requires a consultation with a specialist. He tells you that his company also offers a PPO, but that he did not choose that plan because he knows little about It. Brad is trying to decido between term life insurance and whole life insurance. He likes whole life insurance, as he believes that the loan feature on that policy wlll glve him an option for meeting his liquidity needs. Go to the worksheets at the end of this chapter to continue this case. Brad Brooks-A Continuing Case Part 4: Protecting Your Wealth 1. Regarding Brad's auto insurance decision, comment on the following: a. His plan to add different types of coverage to his auto insurance policy b. The associated costs of adding different types of coverage to his auto insurance policy c. Any resulting negative consequences of switching to a more inexpensive auto insurance company d. Any other factors Brad should consider before switching insurance companies 2. Describe to Brad how he could benefit from a PPO. Are there any negative factors Brad needs to know about if he seriously considers switching to a PPO? Consider Brad's cash flow situation from the previous parts when answering this question. 3. Conceming Brad's life insurance decision, comment on the following: a. His need for life insurance b. If you think he needs life insurance, is whole life his best choice? c. His plan to use the whole life policy's loan feature as a means for maintaining liquidity.