Question
Determine how various insurance options can fit into a persona financial plan appropriate to various life stages and circumstances. Step #1: (just make up randon
Determine how various insurance options can fit into a persona financial plan appropriate to various life stages and circumstances.
Step #1: (just make up randon scenario please except for age, in five years i will be 23 in 10 years i will be 28) Thankyou.
Estimate your family income/situation in five years (consider further out than five years if you intend to have a partner and children in the future - maybe 10 years?):
Two Income?
Children?
Homeowner?
Ages of all members
Step #2-A
Determine the types or insurance vou will reguire:
Home? (Purchase Price/Value)
Heat Type
Location (Urban/Rural - Fire Hydrant distance, distance to work) Coverage required
o Estimated cost per vear
- Auto s)? (Make, model, year)
- S Amount of Coverage required Collision Coverage required /not required
- Estimated cost per year
- Life? (Ages)
- Coverage type (Term, Whole Life)
Amount Required
Estimated cost per year
Step #2-B
Determine the amount of Life Insurance needed using the Income AND Family method
Calculate coverage required using Income Method
Calculate the coverage needed using the Family Need Method
Sten #3
An Other Insurance reguired?
Travel? Health? Disability? Etc...
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