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Jill, age 25, is a single parent and has a 2-year old daughter. She earns $50,000 annually as a radio advertising 37. account executive and

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Jill, age 25, is a single parent and has a 2-year old daughter. She earns $50,000 annually as a radio advertising 37. account executive and is looking to buy life insurance to protect against the risk of premature death. She has the following financial needs and objectives: Immediate Cash Needs 1. Funeral costs and final expenses: 2. Mortgage Debt on home: 3. Credit Cards/Auto debt: 4. College Education: $20,000 $100,000 $15,000 $80,000 Survivor Income Needs 1. $2500/month for 20 years Assets Available 1. Checking Account: 2. $10,000 $10,000 $30,000 $50,000 IRA Account: 401(k) plan: Group Life Insurance: 3. 4. Ignoring the availability of Social Security survivor benefits, how much additional life insurance should Jill purchase (assume that the rate of return earned on policy proceeds equals the rate of inflation)? SHOW YOUR WORK identiy determine expu or Select List the four steps in the Risk Management Process. aud mintu List four of the five dividend options available in a cash value life insurance policy. In class, we discussed a major disadvantage of universal life insurance contracts. What is that disadvanta (Drawing the diagram we discussed in class will suffice.) Jill, age 25, is a single parent and has a 2-year old daughter. She earns $50,000 annually as a radio advertising 37. account executive and is looking to buy life insurance to protect against the risk of premature death. She has the following financial needs and objectives: Immediate Cash Needs 1. Funeral costs and final expenses: 2. Mortgage Debt on home: 3. Credit Cards/Auto debt: 4. College Education: $20,000 $100,000 $15,000 $80,000 Survivor Income Needs 1. $2500/month for 20 years Assets Available 1. Checking Account: 2. $10,000 $10,000 $30,000 $50,000 IRA Account: 401(k) plan: Group Life Insurance: 3. 4. Ignoring the availability of Social Security survivor benefits, how much additional life insurance should Jill purchase (assume that the rate of return earned on policy proceeds equals the rate of inflation)? SHOW YOUR WORK identiy determine expu or Select List the four steps in the Risk Management Process. aud mintu List four of the five dividend options available in a cash value life insurance policy. In class, we discussed a major disadvantage of universal life insurance contracts. What is that disadvanta (Drawing the diagram we discussed in class will suffice.)

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