Insurance is protection against possible financial loss. All types of insurance have one similarity as it will provide you with peace of mind that comes to be your survivors, pay medical expenses, protect your home and belongings and cover personal or property damage caused by you when driving.

1. )Describe the steps involved in planning your insurance coverage.
2. )You are working with Honey Berhad as a management accountant. Recently, a fire broke out in the business premise and Honey Berhad suffered a RM4.4 million loss to the building, and a RM400,000 loss to business personal property result from a covered cause of loss. Honey Berhad is insured under a Business and Personal Property Coverage Form that specifies a RM4 million limit of insurance on the building and a RM500,000 limit on business personal property at the buildings address. The policy has a RM10,000 deductible. Two Casuarina trees also are destroyed, resulting in a RM1,000 loss fully covered by BPP Coverage Forms Outdoor Property coverage extension. Assuming no coinsurance penalty applies, advises on the amount payable to Honey Berhad after consideration of the deductible and policy limits.
3. )You have recently purchased a new semi-detached house in Ipoh from the well-established property developer, Total Investment Berhad for RM550,000 including the lot value at RM240,000. Calculate the amount of insurance that you have to purchase to cover the full replacement of the house in the event of a loss.
4. )You have an HO-3 homeowners policy which has the following limits:

A = RM50,000 [dwelling]

B = RM5,000 [other structures]

C = RM25,000 [unscheduled personal property].

Compute the amount that you will collect if there is a fire and you suffers the following losses with a RM0 deductible:

• Home worth RM40,000
• An unattached garage worth RM8,000
• Personal property worth RM30,000
• Assume it is a valid contract that does not specify replacement cost coverage.

5. )You bought an endowment policy, paying a total premium of RM988 per annum. Your agent told you that the insurance policy will mature in 25 years just on time for your retirement fund. The maturity benefit is projected at RM50,000. Compute the rate of return per annum.
6. )Your sister, Katherine is asking you to help her to calculate her taxable income. She is divorced three years ago and her income for the current year is made up of the following:

RM12,000 child support payments from her 2017 divorce agreement;

RM3,500 in royalties from a computer program;

RM19,000 in employment income; and

RM8,000 in workers compensation payments.

Need Help for a,b,c,d,e and f