Insurance in all of its forms: property & casualty, life, disability, health, LTC, business and professional liability. My opening question is this: how do you a.) decide when to use insurance (i.e. "transfer" the relevant risk), b.) how do you structure it to strike the appropriate balance between self-insurance and transfer of risk, and c.) what are the criteria you use when shopping for an actual policy?

To make the foregoing question more concrete: talk about the following:

1.) Who needs homeowners or renters insurance and why? What would you say to a friend who said that they didn't need a renter's policy because they were happy to self-insure any loss of personal property that resulted from fire, flood, or theft.

2.) When is life insurance indicated? Imagine a married couple with a 5-year old daughter, both working, little in savings. What questions would you need answered before you could make a recommendation? Consider both internal and external factors when answering.

3.) Who needs Long-Term Care (LTC) insurance? Describe black and white scenarios where some DOES and DOES NOT need LTC. Describe a scenario in which it's not so obvious.