Explain how you (the financial planner) would position the applicable and needed insurance solutions to fit both the client's budget and needs:

3: Scott is a partner in a small legal firm with three (3) other owners. The firm is valued at $4 million dollars due to its niche marketing and longevity of the firm. Several of the partners have second and third marriages. Eva is the Chief Operating Officer and has been with the firm for over 25 years overseeing and managing the growth. The partners each earn $300,000 annually with Eva making $50,000 quarterly.

4: Blake and Carolyn are empty-nesters in their early 50s. Carolyn runs the pediatric nurses at a local hospital earning $150,000 a year and Blake works with an investment firm earning $200,000 annually. They have excellent health care coverage from Carolyn's work. They have $600,000 in retirement savings, $50,000 in college debt (kids), and owe $100,000 on their home. Both enjoy their work and will work until their full retirement age (FRA) of 67. Blake currently has $1m of term life insurance and Carolyn has $500,000 of term life insurance. Carolyn's parents are not in good health and Blake's parents have both passed. Carolyn's parents will most likely need medical assistance in the future with limited means to pay for it. It could be likely that she would have to assist due to her other siblings living out of town.